Posted on 02/01/2021 8:37:15 AM PST by Oldeconomybuyer
The Congressional Budget Office expects the U.S. economy will grow at a 4.6% annual rate this year, with employment returning to pre-pandemic levels in 2024.
The 10-year outlook issued Monday said the economic recovery from the coronavirus has been boosted by an unprecedented wave of government spending to combat the outbreak, such that growth could pass its maximum sustainable level in early 2025 before returning to a long-run average of 1.7%. Based on the CBO’s projections, economic growth would be the strongest since 1999.
While the growth estimates suggest a quick snapback in gross domestic product, the CBO shows that hiring will occur at a lag as consumer spending returns and employers become more comfortable with adding workers.
The CBO cautioned that its projections are highly uncertain, in large part because of the pace of the vaccinations and the risk of new variations of the coronavirus. A faster vaccination process — the goal of both aid proposals — would help hiring and growth.
(Excerpt) Read more at apnews.com ...
Here come the Summers of Recovery!
4.6?? Yeh right...
CBO, garbage in, garbage out.
We’ll be lucky if we get 0% growth this year.
I doubt the economic landscape will be the same, post COVID-19. Once COVID-19 has been eradicated, what about COVID-22, Ebola-23, Walking Dead Virus-24 or Andromeda Strain-25?
There isn't an awful lot that would motivate me to want to go to a Broadway Show, eat in a New York City restaurant, or go on a cruise now. (Maybe a payment of $100,000, tax free.)
If Biden starts 10 new wars, and resumes the draft, full employment is possible.
Caption:
“TRUMP really did have the economy roaring.”
4.6% growth? Facial hair? Genital warts? Polyps?
How much growth over 2019?
4.6% growth - Before the “Unexpected” loss of jobs in oil and gas, and their supporting industries like steel and transportation... and many other “Unexpected” (and likely racially unfair) job losses in other industries, that really have no place in our new Green economy anyway.
But seriously, there should be a dramatic recovery after COVID, and they are likely to pump another $2 trillion in stimulus out.
So the inevitable decline from destructive Leftist policies may well b partially masked until next year. Then its “Katie, Bar the Door!”
That was abandoned LAND MINES
Always keep in mind going from zero to .1 is an infinite increase in relative terms. A better measure of economic performance is GNP/person over time.
Coatailing off off President Trumps economy. After the Socialist policies kick in, you will be lucky to any positive movement, except in the government run sector!!!
So the government can spend us to unprecedented economic growth and prosperity..??
This way all the failures will be unexpected.
I believe the media leaves out that part.
That medical weed got some kick to it where’s my pen.
i’m going to start counting all the money I borrow as income. I’m going to enrich myself by taking out 5 car loans (don’t want to be too greedy).
That’s new to Joe and Harris plans to put the out of work people to work clearing abandoned mines in Virginia ,LOL
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