Martin Feldstein on the U.S. economy

Can Obama Fix the Economy?; Wrong Question
CNN
September 8, 2012
Interview with: Martin Feldstein, member of the Belfer Center Board of Directors
Topic: U.S. economy

“VELSHI: Martin, you’re the expert on recessions. Are we headed toward a recession?

FELDSTEIN: I don’t think we’re necessarily headed to a recession. What we’re stuck with is we’re in a deep hole. The economy is very weak and it’s just crawling along at a very low pace. We would really need to be growing about twice as fast to start making a dent in the unemployment, especially in the long-term unemployment which is much worse in this recession, in this expansion, in this business cycle than it has been in the past.”

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