Struggling Recovery and Economic Policy Uncertainty: Testimony Before the Joint Revenue Hearing, House and Senate Ways and Means Committees, Massachusetts State House, Boston, MA

Authors

Christian Weller, University of Massachusetts BostonFollow

Document Type

Presentation

Publication Date

12-11-2012

Abstract

The U.S. economy is in the fourth year of a recovery that started in June 2009. The fact that the economy is in recovery, even modestly, is something of a miracle given how stacked the deck is against it.

This is absolutely unique in American economic history: There has never been a recovery without the housing market expanding substantially as well; There has never been a recovery with state and local governments shrinking for three years in a row; There has never been a recovery with households owing, on average, well more than 100 percent of their after-tax income in debt.

Yet even with all three of these dogging us, we have avoided slipping back into recession.

Comments

Christian Weller's testimony before the Joint Revenue Hearing of the House and Senate Ways and Means Committees at the Massachusetts State House.

Copyedited version of testimony.

Recommended Citation

Weller, Christian, "Struggling Recovery and Economic Policy Uncertainty: Testimony Before the Joint Revenue Hearing, House and Senate Ways and Means Committees, Massachusetts State House, Boston, MA" (2012). Public Policy and Public Affairs Faculty Publication Series. 46.
https://scholarworks.umb.edu/pppa_faculty_pubs/46