Four Wobbly Legs Beneath the Throne of Economic Growth

Public policy has elevated the goal of jobs (with economic growth) to the throne of the economic kingdom and the benchmark for political success in this election year. Yet, four issues among the business leaders at my presentation yesterday at Cornell’s School of Hotel Administration drove home the point that the support to the economy from these four wobbly legs remains uncertain at best. Our outlook … Public policy has elevated the goal of jobs (with economic growth) to the throne of the economic kingdom and the benchmark for political success in this election year. Yet, four issues among the business leaders at my presentation yesterday at Cornell’s School of Hotel Administration drove home the point that the support to the economy from these four wobbly legs remains uncertain at best. Our outlook is for a growth slowdown in the second half of this year even after go the stimulus and all those special programs have passed. Federal spending has been easy, but the real work of setting up conditions to move the economy forward has not been done. There has not been significant follow-through. Why? Thank you for your interest in Wells Fargo’s Economic Commentary by email. You are receiving this message because you have requested Economic Commentary information and updates sent via email. If you no longer wish to receive these emails, please click on the following link to access the Economic Commentary by email registration page: http://www.wellsfargo.com/economicsemail.

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