In its Economic Survey of the United States, the Organisation for Economic Co-operation and Development (OECD) projects that as the country emerges from a severe recession, economic growth will remain low for an extended period of time, and unemployment will remain high for a similar period.
OECD says the financial crisis exposed the weaknesses of regulating the financial markets, but that the Dodd-Frank financial reform legislation will help remedy these infirmities. Still, there is significant regulation that must be done to implement the legislation.
The budget deficit and federal government's debt are much higher than before the recession. To reverse these trends, OECD says the government must put in action fiscal consolidation effort. The Obama Administration has set a goal to reduce the federal budget deficit to 3 percent of the GDP by 2015.
Please visit the Organisation for Economic Co-operation and Development for the full report.