What’s Wrong with the US Economy? Anything?
==========
Economists were expecting 200,000 net new jobs added in March. Instead it was [unknown number]. Employment data for some time now is consistent with what we refer to as a 3-2 condition — when unemployment rate stays in the 3% range, below 4%, and inflation is in the 2% range. In the short term, high inflation is still an issue. Three consecutive quarters of [unknown condition] are great news, but it’s still too early to assume we are experiencing a sustained upturn. CBO projects the national debt will nearly double to $48.3 trillion by 2034, and the debt-to-GDP ratio will reach 116 percent, up from 97 percent currently. Growing deficits will compound interest payments, surpassing defense spending and reaching $1.6 trillion by 2034. James Pethokoukis suggests investing more in science research, [unknown policy], and adopting a go-slow approach on AI regulation. The CBO doesn’t expect a big productivity boom.
https://www.aei.org/economics/whats-wrong-with-the-us-economy-anything/
American Enterprise Institute /
npub14z…4fwd3
2024-04-05 19:21:39
Author Public Key
npub14zq8m4ucx6nteqtxp2d3m8z3tqa2hkcwh4rm96lde0cx2cjwlh9s94fwd3Seen on
wss://relay.nostr.band/allPublished at
2024-04-05 19:21:39Event JSON
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"content": "What’s Wrong with the US Economy? Anything?\n==========\n\nEconomists were expecting 200,000 net new jobs added in March. Instead it was [unknown number]. Employment data for some time now is consistent with what we refer to as a 3-2 condition — when unemployment rate stays in the 3% range, below 4%, and inflation is in the 2% range. In the short term, high inflation is still an issue. Three consecutive quarters of [unknown condition] are great news, but it’s still too early to assume we are experiencing a sustained upturn. CBO projects the national debt will nearly double to $48.3 trillion by 2034, and the debt-to-GDP ratio will reach 116 percent, up from 97 percent currently. Growing deficits will compound interest payments, surpassing defense spending and reaching $1.6 trillion by 2034. James Pethokoukis suggests investing more in science research, [unknown policy], and adopting a go-slow approach on AI regulation. The CBO doesn’t expect a big productivity boom. \n\n\n\nhttps://www.aei.org/economics/whats-wrong-with-the-us-economy-anything/",
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