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Comeback by Charles R. Morris

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  CHAPTER 6

WrapUp

The consensus prognostication for the American economy is still pretty grim. The Congressional Budget Office (CBO) thinks that real growth will climb back to the 3.0–3.5 percent range in 2014–2015, which is still slow for a recovery, but then will slip back into the same 2.2–2.5 percent doldrums that we’re in now.1 The most recent forecast from the Organization for Economic Co-operation and Development (OECD) for annual average real US growth for the period from 2012 through 2030 is a similarly dismal 2.45 percent.2 Those are depressing numbers, but they’re not unreasonable if you accept the underlying growth narratives. Their ...

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