But wait there's more. Adding to the existing burdens are regulations for the environment, banking, and healthcare. Kaching. In addition, as Obamcare kicks in my envelope tells me that government spending must increase to roughly 30% of GDP from its 24% of GDP. Kaching. If the new immigration reform bill passes millions will be added to the social safety net. Kaching.
So 2% GDP growth is NOT the new norm. It is a way point on the way to Greece and then an economic calamity.