Posted on 09/04/2015 4:09:47 AM PDT by expat_panama
It is no secret that the recovery from the recession that ended in June of 2009 has been virtually non-existent. More striking, however, is the impact that this recession and its aftermath have had on the conventional wisdom in Washington regarding America's long-term economic future.
This is clearly seen in current forecasts of America's future economic potential from the Congressional Budget Office (CBO) which predict that a large portion of America's economic potential has been permanently lost.
We believe that this remarkably pessimistic forecast is wrong. An economic policy agenda aimed at...
[snip]
The CBO's June 2015 estimate of America's potential real GDP for this year is nearly 9% lower than the CBO forecast 2015 made in 2007. Our actual economic performance now is even worse — over 12% below the 2007 estimate of where we should be after a full recovery from this recession.
This gap exceeds $1.2 trillion, or over $6,600 for every American. And the CBO forecasts that this gap between America's current real GDP and its potential as of 2007 will never be closed.
Economic growth is the result of higher employment and higher worker productivity, and the CBO expects both to be much lower in future years than they did in their earlier forecast.
[snip]
Safety-net policies should not discourage work through high implicit tax rates resulting from means-tested programs. Regulatory policies should not erect barriers to competition and raise costs. Education policies should expand competition and reward the most successful teachers. Immigration policies should expand the number of skilled workers and immigrant entrepreneurs. And tax policies should simplify the tax code, reduce business and personal marginal income tax rates and broaden the tax base.
Getting people back to work and boosting productivity should lie at the heart of the next president's economic agenda.
(Excerpt) Read more at news.investors.com ...
http://www.nam.org/Data-and-Reports/Cost-of-Federal-Regulations/Federal-Regulation-Full-Study.pdf
Some facts for your argument.
That's not allowed under his current union contract.
Just saying.
It is time to be for American jobs.
Bring them back home.
Fiscal policy is not mentioned until the 8th paragraph from the bottom.
Tx! Seems Yahoo is pretty ‘mainstream’...
This is why I don’t think you’re a single person. This cut and paste reply. Define “American job”.
Tell me which policies will bring them back home?
You’re a Democrat and likely more than one.
Blah blah blah.
Bring back jobs to America.
You cannot get liberals to define their terms. You won’t either. What does that tell us?
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