Thursday, December 21, 2017

2% GDP

Many leading economist say that since the US is considered a mature economy the long term growth will max out at 2% and they point to the last 10 years as evidence. If this is true then there will be many Americans who will be force to live on government benefits because they will not have the skills needed to provide for themselves. Another reason for the slow growth prediction is the full employment but that is misleading because there are 20 million able bodied people between the ages of 16 and 65 who have chosen not to work. This includes 10 million men between the ages of 25 to 54. Something is rotten in the U.S. economy. Poor men without a college degree are disappearing from the labor force. The share of prime-age men (ages 25-54) who are neither working nor looking for work has doubled since the 1970s. Today, one in six prime-age men in America are either unemployed or out of the workforce altogether—about 10 million men.

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