Unique problems stemming from the debt crisis are holding back the pace of the recovery, the Obama administration said Friday, in a report that dismissed Republican arguments that uncertainty about an overreaching federal government was keeping the economy in the slow lane. Weakness in home building and state and local government spending are “unprecedented headwinds” that have not been present during other recoveries, the Obama economic team said in its annual Economic Report of the President. “The problems that caused the deep recession…were a long time in the making and will not be solved overnight,” the report ... (full story)