The U.S. economy is recovering well

WP

By Fareed Zakaria The International Monetary Fund’s latest World Economic Outlook makes for gloomy reading. Growth projections have been revised downward almost everywhere, especially in Europe and the big emerging markets such as China. And yet, when looking out over the next four years — the next presidential term — the IMF projects that the … Continue reading

For U.S. Economy, Short-Term Good News Is Bad News

By Fareed Zakaria It is now conventional wisdom that the U.S. faces an acute fiscal calamity. America’s problems are severe: a deficit that is more than 10% of GDP and total debt that is more than 70% of GDP. But all evidence suggests that the U.S. does not face an immediate crisis. Take a look … Continue reading

Obama Deficit Speech Reveals His Core Beliefs

By Fareed Zakaria President Obama made one of the most important speeches of his presidency on Wednesday. It was an eloquent defense of his basic approach to government and outlined specifically how he would tackle the nation’s long-term debt problems. For people who have been searching for Barack Obama’s core beliefs, this speech is perhaps … Continue reading

Can Obama Get It Right on the Economy?

By Fareed Zakaria Barack Obama has moved to the center, and it is working – politically. Most Americans want a president who can deal with both parties and gets things done. President Obama should use the State of the Union to present a compelling agenda that can garner support from both sides of the aisles, … Continue reading

Procrastination Economics

By Fareed Zakaria This is the wrong time to raise taxes, say the politicians. The economy is fragile, say the economists. The recovery is halting, say the pundits. In a few years, they all affirm, we will need to get our fiscal house in order. Of course, just a few years ago, the economy was … Continue reading

Economic Policy Needs Common Sense, Not Fed Magic, For Long-term Growth

By Fareed Zakaria The background noise in the wonk world these days is of furious debates over economic theory and policy. The foreground is the American economy, which appears strikingly unresponsive. The Federal Reserve’s much-debated quantitative easing (“QEII”) appears, so far, to have had the opposite of its intended effect: It was conceived as a … Continue reading

Facing Up to the Deficit Test

By Fareed Zakaria The fate of the U.S. is going to be decided over the next year. O.K., I know that’s overly dramatic, but here’s why I say it. The deficit-reduction commission co-chaired by Erskine Bowles and Alan Simpson has put the long-term fiscal health of the country front and center on the national stage. … Continue reading

There’s More to Fear Than Fear

No, we haven’t turned the corner on the banking crisis—we can’t even see the corner. What’s needed is a bold, massive jolt to the system. By Fareed Zakaria Franklin Delano Roosevelt’s first inaugural address is now known for only one sentence: “The only thing we have to fear is fear itself.” But the audience at … Continue reading

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