- Value [1] Growth
- FINDING #1: The U.S. "Default Growth Rate" will be 2.3% over the coming decades -- Mainstream economists now project substantially
lower post-recovery growth for the United States compared to previous generations in the nation's modern history. The Congressional
Budget Office predicts 2.3% annual, post-recovery growth for America, assuming that public policies default to the current
path. This rate of growth is a full point less than the annual growth America enjoyed in the 60 years following the conclusion
of World War II. Consensus projections of America's slower growth are driven by a number of trends, most notably America's
aging population and the absence of an aggressive policy response to America's economic challenges, including long-term federal
budget deficits, an outdated infrastructure, an overly complex tax code, and a leveling off of educational attainment.
- Value [2] Middle Class
- FINDING #2: Adding one point to sustainable growth offers immense benefits for America and the middle class -- Increasing
America's long-term growth by one percent would make a tremendous difference to our nation, our place in the world, and to
the lives of average Americans. A Third Way economic analysis performed by Steve East, senior economist at Height Securities,
LLC, finds that increasing our projected, post-recovery growth by one-point starting in 2018 would add: * $901 billion in
new, real economic output in 2022 and $2.877 trillion in new output in 2030. * $792 billion in additional personal income
in 2022 and $2.530 trillion in 2030. * $233 billion in lower deficit levels in 2022 (simply through higher revenue) and $866
billion in new revenue in 2030 alone. * Nearly 2 million additional jobs by 2022 and roughly 5.3 million new jobs in 2030.
Ultimately, this one point means average incomes for Americans that are several thousand dollars higher; a middle class that
is on a trajectory toward success rather than one in search of an elusive economic security; and the difference between a
nation's economy that is surpassed by China in two decades, and one that is larger than China's through the middle of the
century and, perhaps, beyond.
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