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(CNN Money) When the best thing you can say about the U.S. economy is that it isn't as messed up as Europe, you know that's a problem.
Many of the challenges facing Europe are similar to what's going on here in America. The only major difference is that instead of a large number of sovereign nations bickering about debt, you have partisan politicians bickering about debt.
But that has to end so that the United States does not become the next Europe.
The United States is stuck in a slow growth recovery from the Great Recession of 2008 and 2009. And while there have been some encouraging signs in the job market lately, it's not enough to make most consumers (not to mention investors) get all that excited.
Many think that the problem begins and ends with Washington. The refusal to do anything that might help the economy in the short-term because of this myopic focus on cutting the deficit is creating confusion and hurting consumers.
Over the past two years, I've taken plenty of shots at cash-rich companies for not hiring more aggressively.
But to be fair, the onus can't be just on Corporate America.
I met with Alexander "Sandy" Cutler, the CEO of Cleveland-based manufacturer Eaton, at the CNN Money offices Thursday. He's a straight shooter and made a pretty compelling case for why many U.S. companies are lacking the necessary confidence to go out and hire more.
Cutler said that Eaton currently is not facing much pressure to hire in the United States due to the combination of productivity gains and lackluster economic growth here.
But the company has ambitious plans to increase its presence in emerging markets. The goal is to double annual sales in China from $1 billion to $2 billion by 2015.
Bipartisan silliness on payroll tax cut
Interestingly, Cutler said that the problems in Europe, while severe, may be getting blown out of proportion in the markets. Eaton generates about a quarter of its total sales from Europe.
"It's more volatile in the markets than what you see on the ground," he said.
So what's wrong with America?
Read full story at CNN Money...
