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Tuesday, May 17, 2011

postheadericon Shared scarcity versus renewed prosperity

Ryan spoke on Monday to the Economic Club of Chicago and the following are excerpts of his remarks.

Despite talk of a recovery, the economy is badly underperforming. Growth last quarter came in at just 1.8 percent. We’re not even creating enough jobs to employ new workers entering the job market, let alone the six million workers who lost their jobs during the recession.

The rising cost of living is becoming a serious problem for many Americans. The Fed’s aggressive expansion of the money supply is clearly contributing to major increases in the cost of food and energy.

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