Back in the early 1990's, American officials like me who were making long-term forecasts for the Clinton administration cautioned that it would be rash to forecast an average long-run growth rate of more than 2.5% per year - and that actual growth might turn out to be even slower. Now we look back at a decade during which the American economy has grown at an average rate of 3.4% per year.
Back in the early 1990's, American officials like me who were making long-term forecasts for the Clinton administration cautioned that it would be rash to forecast an average long-run growth rate of more than 2.5% per year - and that actual growth might turn out to be even slower. Now we look back at a decade during which the American economy has grown at an average rate of 3.4% per year.