“The U.S. economic morass just gets worse and worse, but the presidential election is unlikely to offer a solution, says Pimco CEO Mohamed El-Erian.
That’s because “[s]adly, neither [President Barack] Obama nor [Republican Mitt] Romney has yet offered a meaningful, forward-looking economic reform program to address the problems,” El-Erian writes in Foreign Policy.
Those problems include a malfunctioning labor market, unsustainable public finances, a broken credit system, inadequate infrastructure and a lagging education system.”
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