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Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.
“By any measure, the state of the Union’s fiscal outlook is unsustainable, and getting worse,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The United States ranks 13th in quality of overall infrastructure according to the World Economic Forum.
https://www.pgpf.org/chart-archive/0215_infrastructure-ranking-by-country-world-economic-forum
A strong fiscal outlook is an essential foundation for a growing, thriving economy.
https://www.pgpf.org/infographic/infographic-how-does-the-national-debt-affect-the-economy
In its annual report on income and poverty, the U.S. Census Bureau publishes data on national economic measures such as household income, earnings, wealth, employment, and poverty.
The growing federal debt could reduce family incomes substantially.
https://www.pgpf.org/Chart-Archive/0203_federal-debt-affects-income
Yesterday, the Federal Reserve announced a decrease in the federal funds rate — the interest rate at which commercial banks lend to each other overnight.
https://www.pgpf.org/blog/2019/10/What-Does-the-Fed-Rate-Cut-Mean-for-the-Economy-and-National-Debt
Growth earlier in the year was spurred by appropriations enacted in early 2018 as well as by the Tax Cuts and Jobs Act (TCJA), though the stimulus effects of the latter are fading.
It may be counterintuitive, but government shutdowns are expensive. They are also bad for the economy.
https://www.pgpf.org/blog/2019/10/four-reasons-why-a-government-shutdown-is-harmful
The fraction of children who earn more than their parents has decreased over time.