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WASHINGTON - Today, the Joint Economic Committee’s Social Capital Project released a brief highlighting the health of social capital in Utah.
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WASHINGTON – Today, Joint Economic Committee Chairman-designate Mike Lee (R-UT) sent letters to the Congressional Budget Office and the Centers for Medicare and Medicaid Services asking for clarification on whether the agencies take the growing lack of social support among senior citizens into account while formulating their healthcare cost projections for federal and state governments. The letters also ask the agencies to explain their current policy in light of a recent JEC report about declining social support among the elderly.
With the economy growing robustly for the first time in a decade, wage growth picking up, and inflation near the Fed’s 2 percent target, the Fed’s decision to hold rates steady seems prudent. I believe that Chairman Powell is on the right track to normalize monetary policy and to enable the full long-term growth effects of tax and regulatory reforms to be realized.
“Americans’ paychecks are finally breaking through the ceiling of wage growth that’s held for nearly a decade, firmly establishing that our economy’s strong momentum is boosting jobs and especially worker pay. This is an exceptionally good report with 250,000 jobs created, a milestone that reminds us that we must continue to push for pro-growth policies that allow all Americans to receive the raises and opportunities they deserve.”
"The announcement of 3.5 percent GDP growth strengthens Americans' confidence under pro-growth policies with faster wage growth and less unemployment," said Paulsen. "Rising business investment shows that the economy will continue to be healthy and strong. Americans have more opportunity and more money in their pockets today than they did two years ago, and that's in large part due to the reforms we've pushed forward."