Demographics and GDP: 2% is the new 4%

Three years ago, I wrote Demographics and GDP: 2% is the new 4% . In that post I pointed out that due to demographics, slower GDP growth should have been expected over the last decade (contrary to political nonsense). Yesterday, Greg Ip at the WSJ noted : Mulvaney: "People thought we were crazy" to forecast 2.3% 2017 growth. "We blew that out of the water." (Referring to John Mulvaney, Director of the Office of Management and Budget). What was real GDP growth in 2017? 2.3% according to the BEA. Too funny.  (Maybe he meant Q4 over Q4, but that was only 2.5% - not exactly blown "out of ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web http://ift.tt/2F0oSBT
via IFTTT