Austin is a powerful example of what happens when you mesh strong economic growth with a vibrant culture. A dispatch from the Congress of Cities meeting.
What are the policies that can spur broad economic growth? Those that reduce barriers, invest in people, and allow for rapid experimentation.
When people talk about our nation's slow rate of economic growth, it often comes with a tone of resignation.
"Perhaps 2.5% growth is the new norm," some people say.
According to the Congressional Budget Office, that 2.5% growth rate may be with us for the next 10 years.
Life seems to flow a little easier when we have things we can count on. Perhaps it’s that hot cup of coffee from the corner shop each morning or football games on Sunday afternoons. It might be the same old haircut from your barber or a weekly phone call from a close friend.
If you think economic growth is fine in America, here's a chart that may change your mind.
The above illustration shows the trend growth rate from 1958 to the present, with projections out to 2024.
Just look at what's happened since 2007.
America’s economic growth continues to underwhelm expectations.
America’s future is in jeopardy. Over the entire postwar period from 1947 to 2013, the trend for economic growth in America was 3.3%. Unfortunately, looking at the period as a whole masks a marked deterioration in U.S. growth performance.