Economist Martin Feldstein writes in the Wall Street Journal about the sluggish economy, with a recommendation to spur a true recovery:
The economy will continue to suffer until there is a coherent and favorable economic policy. That means bringing long-term deficits under control without raising marginal tax rates – by cutting government outlays and by limiting the tax expenditures that substitute for direct government spending. It means lower tax rates on businesses and individuals to spur entrepreneurship and investment.
And it means reforming Social Security and Medicare to protect the living standards of future retirees while limiting the cost to future taxpayers.