'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.
More from CNBC
Mitt Romney Not 'Apologizing for Success'
Which Is Fairer: 'Buffett Rule' or 'Romney Rule'?
NBC Makes Smart Move By Streaming Olympics
--Written by Bruno J. Navarro at CNBC.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV