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Big Business Not Investing
Cato @ Liberty — In a recent post, I argued that while third-quarter GDP was positive, the underlying data revealed that U.S. private investment was still in the toilet. While government spending might be providing a short-term “sugar high” for the economy, U.S. business investment remains in recession. I speculated that Obama’s anti-business agenda is likely one cause of the problem. For those observations, economist Brad DeLong called me an “utter fool.” Let me draw your attention to an article in the Washington Post today ...