The article notes that economic growth since the recession ended three years ago has averaged 2.5% a year. That is roughly the trend rate of an economy already at full employment. Given that America is still in a deep post-recession hole, such a rate should not be enough to reduce unemployment, and should have left so much spare capacity that inflation ought to have fallen sharply. Instead, unemployment has dropped nearly two percentage points in that time and underlying inflation, after dipping below 1%, is above 2%. The EconomistThis article shows how difficult it is to determine potential GDP and thus the serverity of the a recession. The point is that supply depends on demand and efforts to boost consumption should continue because those efforts lead to an increase in capital. Fox News ran a graphic yesterday that shows that the Obama administration has quit spending since 2008. Umm.