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  1. Microsoft Word - Harris JEC Testimony 11.15.23 FINAL

    expenditure item at 6 7 percent of GDP in 2051 exceeding even Social Security outlays Assuming annual inflation rates around the Federal Reserve s 2 percent target this interest burden would far surpass the level...reduce Social Security s 75 year actuarial balance by just over 20 percent 19 Slowing or reversing inflation in health care The outsized role of health care in the federal budget means that growth in health...budget deficits More targeted reforms such as an acceleration in the Medicare Prescription Drug Inflation Rebate Program can similarly improve the fiscal position of major health programs Gradually changing...

  2. https://www.jec.senate.gov/public/index.cfm/reports-studies?ID=25CDB1DC-E601-4DE7-A9BF-22F14232EAA0

    The President claimed that the economy was in a rather dismal state and that he had performed a historic turnaround much as he had boasted that he was a self made man while inheriting more than 400 million...higher 13 Likewise the recent spike in third quarter GDP growth is underwhelming because it follows a historic drop in the previous quarter the economy remains substantially smaller than it was at the end of...decision to not halt the economic expansion out of fear that the economy would run hot and stoke inflation The FOMC under Federal Reserve Chairman Powell had already started cutting rates in summer of 2019...

  3. C:\DOCS\28362.TXT

    standard measure of inflation which most recently stood at 1 6 percent both the first and the sec ond goals have been achieved Although the standard metrics of unemployment and inflation are very good all...in the year After having risen at an annual rate of just 11 4 percent in the first quarter U S inflation adjusted gross domestic product is currently estimated to have increased at a 3 percent pace in...remain contained Even with a step up in growth of economic activity and a strong er labor market inflation has continued to run below the 2 percent rate that the Federal Open Market Committee judges most...

  4. C:\DOCS\29915.txt

    there is no question that families across the country des perately need a raise After adjusting for inflation the typical worker s wages have grown by only 6 percent over the past 35 years It is especially...Switch to position itself for even greater growth for the coming decade More might be done but this historic change has energized the entire CIT team employees and management alike Thank you again for this...participation rise more than I think a lot of people expected We see no par ticular evidence of current inflation as a result of this and we do see some acceleration in average hourly earnings That is all a good...

  5. https://www.jec.senate.gov/public/index.cfm/reports-studies?ID=7183AD0F-D6E9-4490-B0D4-6D3A72226C48

    The President claimed that the economy was in a rather dismal state and that he had performed a historic turnaround much as he had boasted that he was a self made man while inheriting more than 400 million...higher 13 Likewise the recent spike in third quarter GDP growth is underwhelming because it follows a historic drop in the previous quarter the economy remains substantially smaller than it was at the end of...economy pdf 5 Boak Josh and Christopher Rugaber 2018 July 27 AP FACT CHECK Trump falsely claims historic turnaround The Associated Press https apnews com article a7e135215ebc4993a99a85f7eb6963f3 Trump...

  6. https://www.jec.senate.gov/public/index.cfm/reports-studies?ID=7183AD0F-D6E9-4490-B0D4-6D3A72226C48#RelatedFiles

    The President claimed that the economy was in a rather dismal state and that he had performed a historic turnaround much as he had boasted that he was a self made man while inheriting more than 400 million...higher 13 Likewise the recent spike in third quarter GDP growth is underwhelming because it follows a historic drop in the previous quarter the economy remains substantially smaller than it was at the end of...economy pdf 5 Boak Josh and Christopher Rugaber 2018 July 27 AP FACT CHECK Trump falsely claims historic turnaround The Associated Press https apnews com article a7e135215ebc4993a99a85f7eb6963f3 Trump...

  7. https://www.jec.senate.gov/public/index.cfm/reports-studies?ID=E4E68AD0-3A87-4724-934C-D4F05985CEB2#RelatedFiles

    The President claimed that the economy was in a rather dismal state and that he had performed a historic turnaround much as he had boasted that he was a self made man while inheriting more than 400 million...higher 13 Likewise the recent spike in third quarter GDP growth is underwhelming because it follows a historic drop in the previous quarter the economy remains substantially smaller than it was at the end of...decision to not halt the economic expansion out of fear that the economy would run hot 141 and stoke inflation The FOMC under Federal Reserve Chairman Powell had already started cutting rates in summer of 2019...

  8. https://www.jec.senate.gov/public/index.cfm/reports-studies?ID=53A085B5-5C4A-4A4F-B4B4-8945602E274F

    Mobility Tables Table A 1 https www census gov data tables time series demo geographic mobility historic html 6 Davis Steven J and John Haltiwanger Labor market fluidity and economic performance No w20479...nearly a third of American cities added housing to more than accommodate popula tion growth lowering inflation adjusted home prices Houston s housing starts ex ceeded only by Dallas Ft Worth continue to offer...

  9. https://www.jec.senate.gov/public/index.cfm/reports-studies?ID=9F8BAC51-EB52-4238-BA1E-CC68712DA5C5#RelatedFiles

    nominally by 3 percent as compared to a year ago in the final quarter of 2019 Even adjusting for inflation wage growth compared to a year ago remained relatively steady near 1 percent over all four quarters...hold Real median hourly wages between 1973 and 2019 have grown by 13 percent after adjusting for inflation using the personal consumption expenditure PCE index Within that timeframe it is noteworthy that...equivalized personal income over the 2007 2016 period which is adjusted for household size and inflation and this average annual growth is slightly above the 0 6 percent annual average change in real GDP...

  10. https://www.jec.senate.gov/public/index.cfm/reports-studies?ID=E4E68AD0-3A87-4724-934C-D4F05985CEB2

    The President claimed that the economy was in a rather dismal state and that he had performed a historic turnaround much as he had boasted that he was a self made man while inheriting more than 400 million...higher 13 Likewise the recent spike in third quarter GDP growth is underwhelming because it follows a historic drop in the previous quarter the economy remains substantially smaller than it was at the end of...decision to not halt the economic expansion out of fear that the economy would run hot 141 and stoke inflation The FOMC under Federal Reserve Chairman Powell had already started cutting rates in summer of 2019...

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