1) Government Programs:
The impact of the health care bill, for example, will have significant impacts on a very big sector of the economy. Most players will be able to move faster than the government and the shifting of costs from the government to the insurance companies will not work, resulting in higher costs to the government than planned.
The government stimulus has failed to prop up the housing market and has not dealt with the unemployment crisis. The stimulus was a squandered opportunity and combined with the health bill fiasco has severely weakened the position of the administration, making it less likely that any “good” will come from Washington.
The tea party reaction to the deficits make it certain that taxes will be on the rise, further slowing the economic recovery. Government may well be the enemy of any economic recovery.

2) Technology:
The only real solution to growing the economy is to create new value, not just to have the government print more money. Technology and innovation are the engines of increases in value. But the process is slow. New technologies often take 15 – 25 years to produce meaningful impacts on the overall economy.

3) The consumer:
Consumer led growth will be missing until two major issues are addressed: Housing and Unemployment. A recovery in the housing market will be necessary to improve consumer confidence, probably leading to increased consumer spending and employment gains.