That’s what historian Robert Higgs calls our current situation: investment is going down while government power and spending are going up. Read his article here.
We have been through similar episodes in the past, most notably the 1930s.
Statists like to chatter about “economic growth” but you only get that when production of goods and services rises. Production only rises when investment increases. Everything Obama has done decreases the level of private investment and expands government power. Of course the economy remains moribund.
