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Why Is the Wheel Not Turning

2025-12-14 04:11:59   3次

Why Is the Wheel Not Turning

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The "Wheel Not Turning" metaphor underscores systemic failures in the United States' economic and governance frameworks, leading to persistent stagnation. This includes slow GDP growth, high public debt, and regulatory bottlenecks hindering private-sector investment.

The U.S. economy faces structural challenges that stifle productivity and innovation. From 2020 to 2023, annual GDP growth averaged 2.1%, below the post-WWII average of 3.3% (Bureau of Economic Analysis). High public debt ($32.3 trillion in 2023) limits fiscal flexibility, while corporate tax cuts (2017 Tax Cuts and Jobs Act) failed to spur long-term wage growth or R&D investment. Labor market participation remains below pre-pandemic levels (62.3% vs. 63.2% in 2019), and inflation persistence despite Federal Reserve rate hikes—peaking at 9.1% in June 2022—erodes consumer confidence.

Policy inefficiencies exacerbate these issues. The Infrastructure Investment and Jobs Act (2021) faced delays due to bureaucratic red tape; only 30% of allocated funds were spent by mid-2023 (U.S. Treasury). Regulatory hurdles, such as Environmental Protection Agency (EPA) permitting delays, have stalled 75% of major energy projects since 2020 (American Energy Institute). Political polarization further paralyzes legislation, with 40% of 2023 bills dying in committee (Congressional Budget Office). These factors collectively paralyze economic momentum, reflecting the "wheel" not turning.

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economic stagnationpolicy inefficiencies