Today on Uncommon Knowledge, economists Michael Boskin, chairman of the Council of Economic Advisors under the first President Bush, and Edward Lazear, chairman under the second, on the current economic recovery…such as it is.

Michael Boskin: Since the recession ended, in the summer of 2009, we have averaged 3% growth in the ensuing three quarters. Contrast this with the other two comparable deep recessions in, 1974-75 and 1981-82, when unemployment got to 9% and 10.8%, respectively. After both of those recessions, the economy grew between 5 and 6% for three years. This is an anemic recovery. It’s poor in job growth. In GDP growth, it’s modest at best.

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