“America’s Constrained Choice” by Mohamed A. El-Erian | Project Syndicate

“America’s Constrained Choice” by Mohamed A. El-Erian | Project Syndicate.

So, whether President Barack Obama or Mitt Romney prevails in November, the next president will be constrained by the twin need for urgent economic stabilization and longer-term reforms. And, with headwinds from Europe and a synchronized global slowdown, the candidates will have no choice but to pursue, at least initially, similar economic policies to restore dynamic job creation and financial stability.

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