Source: Law & LIberty
by Mitch Daniels
“The evidence is persuasive that AI and related advances are already boosting the economy in the most important way possible, by raising productivity. That’s the biggest reason that GDP is surprising on the upside while job growth remains tepid. Moreover, forecasts that this favorable windage will accelerate seem highly credible. What’s not credible is the idea that even an AI-led productivity surge can suffice to offset our decades of dereliction. The Congressional Budget Office, the Federal Reserve, and other forecasters peg average future economic growth at a little under 2 percent. Assume a 70 percent boost from the AI revolution, to 3 percent or so, and it becomes possible to imagine our [sic] current debt level stabilizing, not improving but merely getting no worse. But even this daydream requires far too many improbable breaks.” [editor’s note: The US government debt isn’t “our” debt, it’s the US government’s debt. There’s a difference – TLK] (06/04/26)