Biden’s Economic Team Predicts Long-Term Slow Growth

Source: Ludwig von Mises Institute
by Mark Hendrickson

“What is noteworthy about the depressing title to this article is its source. In a case of uncommon candor, President Biden’s economic team has announced that once the artificially high, stimulus-juiced GDP (gross domestic product) measurements of the next two years subside, the United States will experience sub-2 percent growth for the rest of the decade. This dismal forecast wouldn’t be surprising if it had come from Biden’s political opponents, but coming out of the White House itself, it is an astonishing admission. You don’t need to have any specialized knowledge of economics to see why team Biden is projecting protracted slow growth. Consider the previous dozen years.” (07/06/21)