The Real Economy: Volume 70
In the long run, U.S. needs a productivity miracle
THE REAL ECONOMY |
Authored by RSM US LLP
The Congressional Budget Office recently published its long-term budget outlook for 2020. Not surprisingly, its forecast of a 107% debt-to-GDP ratio in 2023, rising to 195% in 2050, garnered all of the attention.
But beneath that headline are significant policy challenges facing the U.S. economy. Because of demographic and structural changes to the economy, long-term growth has slowed noticeably. Once one looks at the baseline assumption, it’s clear the United States is going to need a productivity miracle.
In this issue, we examine U.S. productivity trends and challenges, monetary policy, money velocity, the presidential election and health care, as well as middle market capital expenditure views. Download the full report.
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This article was written by Joe Brusuelas and originally appeared on 2020-10-05.
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