Americans feel as though the economy is in a recession and want the government to do something about it. In reality, it is expanding. In the second quarter, it grew at a respectable inflation-adjusted rate of 1.9 percent, double the pace of the first quarter. Unemployment was up, but it's still a pretty mild 5.7 percent.
The recession cures being bandied about by the presidential candidates and others miss the real source of our current pain and what can be done about it—which is not much.
Time to batten down the hatches and prepare to ride out the recession?
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