The Washington Post
“This may come as something of a surprise,’’ but there’s good reason to be optimistic about the U.S. economy, said Steven Pearlstein. Unemployment is dropping and home construction is finally perking up, but I’m even more heartened that our economy is finally undertaking the structural reforms that will allow a robust recovery to take hold. Our financial sector seems to have finally accepted that it is too big and too risky; banks are shrinking their balance sheets, shedding employees, and off-loading riskier activities. A badly needed, revolutionary reform of the health-care system has begun, with Obamacare, insurers, and hospitals moving to “accountable care,’’ where doctors are paid on salary to make people well, instead of for providing treatments. That would finally restrain costs. This restructuring momentum even gives me hope that we might soon see progress on “the granddaddy of structural problems”—the federal budget deficit. At the same time, economic problems in China, India, and Europe are pushing foreign investments back our way. We could be just “one budget deal away from restoring” our global economic dominance.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- After Ferguson: Stop deferring to the cops
- Ferguson riots were terrible — but this racist reaction was worse
- The hilarious hypocrisy of Republicans complaining about the imperial presidency
- 43 TV shows to watch in 2014
- Is it now OK to have sex with animals?
- Don't argue about politics this Thanksgiving. Just don't.
- The slippery slope of Twitter's attempts to stop harassment against women
- In Ferguson, Michael Brown lost his life — and America's police lost the benefit of the doubt
- Hey, scolds: Stop telling us to enjoy a healthy Thanksgiving
- How to be the most productive person in your office — and still get home by 5:30 p.m.
Subscribe to the Week