The two main threats to the U.S. economy are government overregulation and plain fear that has not dissipated since the financial crisis, former General Electric chairman and author Jack Welch told CNBC.
Much has been discussed regarding the lack of demand that is depressing hiring, housing and the entire slow-growth economy. Welch said in a CNBC interview that the low demand is rooted in two areas: Regulation gone wild during the Obama administration, and worries "in the gut" that the economy would turn back into recession or even depression.
"We all lived through three years ago, all those 401(k) collapses, all those things. That fear is in the gut," he said. "Then you compound that with the uncertainty from this administration and this incredible run on regulation, which is beyond belief...."
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