03/18/2010 05:12 am ET Updated May 25, 2011

Jeffrey Sachs: Why Obama's Failing On The Economy

The past week brought news of US double-digit unemployment and the Federal Reserve's decision to maintain near-zero interest rates. Both pieces of news expose the inadequacy of US economic policymaking. The Obama administration's stimulus policies are not well-targeted. The Republican alternatives are even worse. Both sides are missing the key fact: the US economy needs structural change that requires a new set of economic tools.