Before all the revisionism starts....

oldfart

Older than dirt
Nov 5, 2009
2,411
477
140
Redneck Riviera
Here are CBO's forecasts released yesterday.

The economic forecast that underlies CBO’s budget projections indicates that in real (inflation-adjusted) terms, gross domestic product will expand at an average annual pace of 2.1 percent over the next two years—if current laws generally remained unchanged—after rising last year at an annual rate of 1.8 percent. We expect that growth to boost employment, virtually eliminate the remaining slack in the economy, and drop the unemployment rate to 4.4 percent by the fourth quarter of 2018.

Further ahead, according to CBO’s projections, GDP will expand at an average annual rate of 1.9 percent over the second half of the coming decade. That growth rate represents a significant slowdown from the average over the 1980s, 1990s, and early 2000s, mainly because of the slower growth projected for the nation’s supply of labor, which largely results from the ongoing retirement of baby boomers and the relative stability in the labor force participation rate among working-age women.

As slack diminishes over the next two years, we expect the rate of inflation to rise to the Federal Reserve’s goal of 2 percent and to stay there, on average....


These are the "baked-in" rates under current policy; i.e. what would happen with no changes under current law. Any variation, positive or negative, are presumably the result of the new administration and Congress's policies.
 
1.9% under obummer would have been awesome. With the trumpster in there I think you are going to see a 4% growth rate in the not too distant future.
 
I will admit that I as an "older" worker would like to work more. To get another shot after 9 mos out seems impossible. All benefits gone now and no lesser or similar job. I hope Trump improves things for the younger workers. For older.....it may be too late. Early retirement seems forced upon many.

I had an uncle who was working his farm until tractor rolled over on his leg on hillside. I think he was age 83? Land O Goshen! Nowdays if you can find city work till you are 62 you are doing good.
 
I will admit that I as an "older" worker would like to work more. To get another shot after 9 mos out seems impossible. All benefits gone now and no lesser or similar job. I hope Trump improves things for the younger workers. For older.....it may be too late. Early retirement seems forced upon many.

I had an uncle who was working his farm until tractor rolled over on his leg on hillside. I think he was age 83? Land O Goshen! Nowdays if you can find city work till you are 62 you are doing good.

Personally, I only worked for an employer I was not a principal in a few years out of the last 50 years. It didn't make me rich, and I had a lot of thin years, but the kids got their education, I really did create a few dozen jobs, and I practiced my profession the way I wanted to. No one could fire me. My advice to everyone: do something you can be proud of, taper off as you get older, and keep at it until someone pushes your wheelchair down the stairwell as you drool and try to fondle the nurse.
 
Here are CBO's forecasts released yesterday.

The economic forecast that underlies CBO’s budget projections indicates that in real (inflation-adjusted) terms, gross domestic product will expand at an average annual pace of 2.1 percent over the next two years—.

absurd since we have no idea what Trump will get done!!
 

Forum List

Back
Top