'This Is Not a Recovery at All': Stanford's Lazear
By Bruno J. Navarro, Producer
NEW YORK (CNBC) -- The U.S. economy grew at a rate of 2.4% since the second half of 2009, which hardly represents a comeback, Stanford University economics professor Ed Lazear said Wednesday.
"The problem is, this is not a recovery at all," he said on CNBC's "The Kudlow Report." "We haven't made up for the lost ground, and that's unprecedented."
Lazear, who also chaired President George W. Bush's Council of Economic Advisers from 2006 to 2009, authored a Wall Street Journal op-ed piece this week, titled, "The Worst Economic Recovery in History," in which he used historical data to argue that the current period of growth is anemic at best.
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--Written by Bruno J. Navarro at CNBC.
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