After Two Years of Stimulus, The Growth Deficit

After two years of Keynesian and monetarist stimulus on steroids, the anemic recovery from the 2008-09 recession is giving way to a slow-growth economy. No economist in 2009 warned that an $800 billion in federal stimulus spending and a tripling of the Fed’s balance sheet through two rounds of quantitative easing would lead to an unemployment rate that still hovers above 9%.  Yet, that is exactly where things stand.