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Where Is the Economy Heading?
(AP)

(AP)

It’s a battle zone out there in the US economy. Lines at the door of American banks, in photos that look out of the 1930s. Home foreclosures still surging. The federal government stepping in big to try and brace up Fannie Mae and Freddie Mac. Fears of worse to come.

This isn’t the picture economist Martin Feldstein had in mind when he began advising Ronald Reagan on tax cuts, deregulation, and supply side economics in the 1980s. But it’s what we’ve got.

This hour, On Point: Heavyweight Harvard economist Martin Feldstein on the fix we’re in, and what comes next for the US economy.

Guests:

Martin Feldstein, economics professor at Harvard University, is president emeritus of the National Bureau of Economic Research and former chairman of the Council of Economic Advisers under President Reagan.

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ONPOINT
TODAY
May 5, 2016
Detroit teachers march outside the district headquarters, Monday, May 2, 2016, in Detroit. Detroit Public Schools transition manager Steven Rhodes says 45,628 of approximately 46,000 students were forced to miss classes Monday as 1,562 teachers called in sick. The mass sick-out has forced the district to close 94 of its 97 schools. Detroit's schools are expected to be out of cash starting July 1. The state earlier gave the district $48.7 million in emergency funding to keep it open through June 30 as the Legislature considers a $720 million restructuring plan. (AP Photo/Carlos Osorio)

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Rob Reiner with his son, Nick. [Courtesy: Paladin]

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Republican presidential candidate Donald Trump is joined by his wife Melania, right, and daughter Ivanka, left, as he arrives for a primary night news conference, Tuesday, May 3, 2016, in New York. (AP Photo/Mary Altaffer)

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