Get used to it: Economists see "new normal" of slow growth

Associated Press ^ | Dec 5, 2016 12:41 AM EST

[Olog-hai]

Americans should get used to a “new normal” of slow economic growth, business economists say.

The median estimate from economists surveyed by the National Association for Business Economics calls for the American economy to grow 2.2 percent in 2017, up from a forecast 1.6 percent this year and unchanged from the previous survey in September.

The improved number is still lackluster by historical standards. U.S. economic growth averaged 3.1 percent a year from 1948 to 2015, according to the Congressional Research Service. But the business economists say Americans need to get used to slow growth: 80 percent of those surveyed believe the potential growth rate of the American economy will remain at 2.5 percent or lower over the next five years. …

[Mr Ramsbotham]

A round of tax and regulatory cuts from the new administration should help this immensely.

[Pollster1]

I doubt their predictions. I think this is more of a “not Hussein’s fault that the economy stagnated for eight years”. By the end of next year, it will be “robust growth thanks to Hussein’s brilliant policies that paid off just after he left office”.

[LibWhacker]

80 percent of those surveyed believe the potential growth rate of the American economy will remain at 2.5 percent or lower over the next five years.

80 percent of those surveyed are liberal dipsh*ts who don't have a clue how bad Trump's crow is going to taste five years from now when he feeds it to them.

[rlmorel]

Heck, we all knew this was one of the goals of the liberals...the “new normal”.

[ClearCase_guy]

And if Trump gives us decent growth, it will be “unexpected”.

[chimera]

Interesting that all these “new normals” have come to be established during Obama’s reign, and almost all of the “new normals” are downgrades from previous normals (e.g., slower economic growth, lower average family income, lower standards for education and achievement). About the only higher “new normals” are things like taxes, racial tensions, lawlessness, terrorist attacks, federal budget deficits, and the like. Is this the “fundamentally change America” that Obdumbo talked about?

[LibWhacker]

They should talk to the pollsters, who have already tasted it.

[Jack Hammer]

Bingo.

We have a winner!

[Bubba_Leroy]

The Obamaconomy.

[Sasparilla]

.... I think this is more of a “not Hussein’s fault that the economy stagnated for eight years”....

Paul Krugman is devastated because theres no third Obama term.

[Sasparilla]

.... I think this is more of a “not Hussein’s fault that the economy stagnated for eight years”....

Paul Krugman is devastated because theres no third Obama term.

[manc]

Protecting obama’s legacy, but guaranteed they will change their views in a few months.

So predictable.

[FirstFlaBn]

Same sort of pap was published about this time in 1980. Exact same stuff. Libs still won’t admit the Laffer Curve describes reality. If we got 5% Q1 growth followed by 7% in Q2, the contortions these dummies would do to deny the credit to Trump would astound you. Stay tuned.

[9YearLurker]

Economists have always tended to be a bit idiotic.

[FrankR]

What we will hear from the media is, improvements in the economy are “obamas policies kicking in”, and not anything Trump did.

They blamed, and are still blaming obamas failures on Bush, so it stands to reason that will be their story.

[jonno]

Of course - “put on your sweater - and settle in for the malaise...”

[Sacajaweau]

The future is never a “known”...it’s just a possibility.

[b4me]

these economists are not educated very well.

[Paulie]

Apparently these ‘economists’ forgot that, come January, obama is out and Trump is in.

Eliminating or vastly reducing senseless regulations initiated over the last eight years alone is good for 3%+ growth as far as the eye can see.

Factor in that confidence is through the roof, and we’re looking at 5% GDP growth for the next decade.