Back in January I wrote: The Future's so Bright .... I started by writing that "It looks like economic growth will pickup over the next few years", although for 2013, I was expecting "another year of sluggish growth" due to fiscal policy.
I also argued that the "key short term risk is too much additional deficit reduction too quickly". Unfortunately I was expecting some sort of agreement to delay or reduce the sequester budget cuts - so there will be more fiscal drag this year than I expected - but I still think the future is bright.
The following is an update to the graphs and text in the earlier post:
Read more...Calculated Risk: Update: The Future's so Bright ...
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