The Growth Imperative: How Slow Growth Threatens Our Future and the American Dream
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%. But since 2007, the rate has downshifted to a mere 1.5%, which translates into a meager 0.7% in growth per capita in the United States. Even more troubling, the nonpartisan Congressional Budget Office (CBO) projects that growth will only average 2.5 % over the next 10 years and drop off to 2.0% at the end of the period.
Americans need faster economic growth, and officials from the U.S. Chamber of Commerce Foundation will be touring the country this year to raise awareness of this important issue.
Foundation senior advisor John R. McKernan Jr. and representatives from the U.S. Chamber of Commerce will visit with local chambers of commerce and business councils to explain how our current slow growth path is a threat to long-term prosperity.
Here is the schedule of upcoming events related to the Growth Imperative Tour.
The basis for the nationwide tour is a research paper, The Growth Imperative: How Slow Growth Threatens Our Future and the American Dream. The report offers insight into the historical rate of economic growth since 1947, and warns of the troubling implications of our current slow growth path.
Douglas Holtz-Eakin, the former director of the Congressional Budget Office and president of American Action Forum, authored the report.
Also see these related blog posts on growth:
- A note on growth from U.S. Chamber of Commerce Foundation President John R. McKernan Jr.
- One Scary Chart On Economic Growth in America
- 7 Statistics on Why Growth Matters
- Don't Do Flips Over Economic Growth Just Yet
- A Nationwide Tour on the Virtues of Economic Growth
- Outlook for Long-Term Growth Remains Dim
- Press Release