Posted on 12/05/2016 5:18:54 AM PST by 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. …
(Excerpt) Read more at hosted.ap.org ...
Gee, slow growth would be a vast improvement of no, and perhaps even negative, growth we have experienced for almost a decade now.
they said the same thing during Carters term.
But the fact is.. it’s only the new normal as long as liberals are in charge.
“new normal”
This must be the new buzz word of the week. Our local Gannet rag has a headline story today using this phrase.
Cancel 100% of The Kenyans regulations, eliminate EPA, DOE, ED, and Interior, across the board tax cuts, repeal O-Care, eliminate base line budgeting, revise entitlements, tie welfare to work, shut the border, enforce immigration laws.
Then get back to me about the “new normal”.
These low expectations are going to be shattered.
Love that picture. Poor crows.
Taking that bet.
The AP says it.
Ergo, it is most probably incorrect.
“New Normal” is just an excuse for bad performance. It should be disregarded.
The push is on to make Obama’s economy look good as he exits.
It will be amazing to discover how bad the economy got between December 31 and January 21. By the end of January, the media will be showing the economy in the tank.
Obama will take, and be given, credit for the 1000 Carrier jobs, skyrocketing stock market, etc., for the glowing 4th quarter. Ironically, that ‘glow’ seemed to start around November 9.
The media will continue to laud Obama. History, however, will likely not be so kind. Obamacare, the major accomplishment, is crashing upon itself. The Republicans should put it out of our misery shortly, except that many of the spineless Pubbies are already hedging.
It is shocking, the amount of socialist economists that are out there. It’s almost like they forgot the most fundamental basics of economics.
This has been the liberal goal for decades: get Americans accustomed to a lower quality of life.
You have that right - for last 8 years stagnation and failure have been sold as the “new normal”.
What was it they said during the Battle of the Bulge?
“The Germans have got us surrounded, those poor bastards.”
The surest sign we are in for an extended boom is that the experts say it won’t happen. It’s Carter and his boys as opposed to Reagan and his. They’ve forgotten what the US economy can do without the jackboot of regulation keeping our heads pressed into the dirt. If Trump hadn’t existed, it would be necessary for us to invent him.
It’s not a problem of under-educated economists. You don’t get PhD’s without some education. The thing is, what they are learning ain’t necessarily so. But economics is a social science, and any field of study with the word ‘social’ in it, ain’t science.
High unemployment was the new normal . . . until those without jobs dropped out of the workforce.
High gas prices were the new normal . . . until fracking increase the supply to where prices dropped.
The only real “new normal” was the media making excuses for White House failures, and even that will come to an end effective January 20, 2017, when freedom is restored.
How long before the “homeless” stories start appearing again the MSM fake news?
46 days. Exactly.
Japan has had slow growth for decades because of their corrupt politicians. We do not need to be like Japan.
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