Our take: Andrew Coyne at the National Post (Canada) takes a close look at the argument being shared by economist Tyler Cowen that America finds itself in a period of great stagnation, in part because we have consumed all of our low-hanging economic fruit and complicated the opportunity for growth through distortionary regulations, taxes and subsidies.
"It has become a cliche: the new normal. Indeed, so accustomed have Americans become to slow economic growth and stubbornly high unemployment, more than three years into the "recovery," that it may not even seriously threaten Barack Obama's re-election prospects. No one thinks the economy would be doing much better with someone else in the White House."
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