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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 reversinginflation 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 DrugInflation Rebate Program can similarly improve the fiscal position of major health programs Gradually changing... -
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 ahistoric 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 stokeinflation The FOMC under Federal Reserve Chairman Powell had already started cutting rates in summer of 2019... -
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 andinflation are very good all...in the year After having risen at an annual rate of just 11 4 percent in the first quarter U Sinflation 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 marketinflation has continued to run below the 2 percent rate that the Federal Open Market Committee judges most... -
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 thishistoric 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 currentinflation as a result of this and we do see some acceleration in average hourly earnings That is all a good... -
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 ahistoric 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 claimshistoric turnaround The Associated Press https apnews com article a7e135215ebc4993a99a85f7eb6963f3 Trump... -
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 ahistoric 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 claimshistoric turnaround The Associated Press https apnews com article a7e135215ebc4993a99a85f7eb6963f3 Trump... -
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 ahistoric 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 stokeinflation The FOMC under Federal Reserve Chairman Powell had already started cutting rates in summer of 2019... -
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 loweringinflation adjusted home prices Houston s housing starts ex ceeded only by Dallas Ft Worth continue to offer... -
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 forinflation 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 andinflation and this average annual growth is slightly above the 0 6 percent annual average change in real GDP... -
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 ahistoric 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 stokeinflation The FOMC under Federal Reserve Chairman Powell had already started cutting rates in summer of 2019...
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