Mort Zuckerman, US News and World Report Chairman and Editor-in-Chief and New York Daily News publisher, argued that the US is in the middle of one of, if not the, weakest economic recovery since World War II on Friday’s “McLaughlin Group.”
“A lot of the employment we’re talking about today is part-time employment, and part-time employment is treated by all the national statistics as if they were full-time employment. It is one of the weakest recoveries, maybe the weakest recovery we’ve had since the end of World War II” he said.
Zuckerman added that the weak recovery is “despite a huge stimulus, both in monetary and fiscal policy, we have barely eked out growth. You’re looking at 2.1% growth in GDP, which is well below what it should have been under the circumstances of this kind of stimulus. So, we’re nowhere near out of this downturn of the economy. It has not created the jobs we need at the wages we need.”
Later in the show he predicted, “the next election year we’ll still see the economy and jobs as the principle issue because those are, the weakness in both of those categories will continue until then.”
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