7 Statistics on Why Economic Growth Matters
The U.S. Chamber of Commerce Foundation has released a new report emphasizing the need for more economic growth. The Growth Imperative report outlines our historic growth rate, and issues warnings about the impact of our current growth path.
The report points to projections that show the nation may see growth of a mere 2.5% annually over the next decade. That compares to 3.3% of growth annually since 1947.
"It's pretty simple, we need to get back to our historical growth rate," U.S. Chamber of Commerce President John R. McKernan Jr. said.
McKernan said lawmakers must consider the impact on growth in policy discussions, and said Congress should consider reforms to taxes, immigration and entitlement policies to spur growth.
Why does economic growth matter?
This slideshow will help you understand what has happened to our nation's economic growth in recent years, and what the decline in growth might mean for our way of life.