As much as we have struggled, if you look at Germany, the UK, Japan, throughout Europe, throughout the advanced world, we're getting no support from any other part of the world. So are the growth of our exports is just through the sweat of our brow. There is no obvious massive growth engine that's driving to help us.Interesting. For the past forty years or so, the Democratic Wing of the Democratic Party has been comparing U.S. social policy unfavorably to the social policies of those other industrialized countries. Now comes the Obama Administration, putting into place all of those European policies including greater government provision of health services, and industrial policy, and equal work for equal pay, and all the rest.
Whether slower economic growth comes as a consequence of those policies is left to the reader as an exercise.