The U.S. Council on Competitiveness asked Gallup to conduct, pro bono, a comprehensive study of U.S. growth and productivity for the Council's 30th anniversary.

Chairman Jim Clifton enthusiastically said yes, and describes his findings...

A Gallup senior economist led the study. Top Gallup experts and esteemed external senior scientists reviewed it to ensure statistical and theoretical accuracy and objectivity.

Conventional wisdom -- as reported in many major newspapers and media -- tells us the U.S. economy is "recovering." Well-meaning economists, academics and government officials use the term "recovery" when discussing the economy, implying that growth is getting stronger.

The study, released today, finds there is no recovery . Since 2007, U.S. GDP per capita growth has been 1%.

The Great Recession may be over, but America is dangerously running on empty.

Think of our country as a company, America Inc., which has more than 100 million full-time employees, with about $18 trillion in sales and $20 trillion of debt. The most serious problem facing it is no growth. In addition, America Inc. has three soaring expenses threatening to bankrupt the company and its shareholder-citizens: healthcare, housing and education.

As this report notes, in 1980, these three sectors accounted for 25% of total national spending -- today, they account for more than 36%. They also account for most of the total measured inflation over the same period. And without inflation in these sectors, real annual productivity -- defined as GDP per capita growth -- would have been an estimated 3.9% instead of 1.7%.

My own opinion is that America Inc. is too big to "turn around" like one would a company or any other organization. There is no quick fix to something this huge and complex. But there is a long-term fix, which is to get GDP increasing to 3% and higher while slowing the increasing costs of healthcare, housing and education.

When real growth returns, productivity will increase, and America Inc.'s empty tank will refill.

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Full report below (please note that if you are unsatisfied with this study please report Gallup to The Washington Post for being a Russian puppet..)