WKU Economics Professor Brian Strow says the slow growth rate of the U.S. Economy is a troubling sign. The B.B.&T Chair for the Study of Capitalism at Western Kentucky University says the economy should be growing at a significantly higher rate at this point.
Dr. Strow says the growth rate in "the second quarter was only 1.5 percent, and that's even slower than the last two years' average. The average growth rate from 1950 to 12012 has been 3.3 percent, so its less than half the average growth rate." The WKU economist says a low growth rate means it takes significantly longer for many individuals to reach their economic goals. He says the slow growth rate is also having a negative impact on employment prospects, particularly for young people and recent college graduates.
Strow believes the federal deficit is continuing to have a negative impact on the nation's economic strength.