WASHINGTON (AP) — As the U.S. economy enters its eighth year of its recovery from the Great Recession, a report by Harvard Business School says one major factor is slowing its growth: Government gridlock.
The report concludes that the lukewarm pace of the recovery increasingly reflects the inability of President Barack Obama and the Republican-led Congress to reach agreement on programs to bolster U.S. competiveness worldwide.
Prosperity has become more concentrated among fewer Americans. And the nation’s competitive edge is slipping as factors that have helped drive growth in the past are viewed as worsening. The U.S. political system, tax code, health care system, public schools, regulation and infrastructure are now all viewed as weaknesses for the economy, according to surveys of Harvard Business School alumni, students and the public.