US Economic Growth Lags Behind Developing Countries

US Economic Growth Lags Behind Developing Countries

Craig Huey Economics, Government 0 Comments

US Economic Growth Lags Behind Developing Countries

In the United States, new job growth, rising wages and business expansion have been painfully low.

The massive government interventions, excessive taxes (2nd highest in the world) and job killing regulations have slowed our recovery from the 2008 recession.

Like a car going 20 miles an hour in a 65 mph zone, we are moving, but not much or fast.

Our economy should have been growing 5-6% or more a year.

Just look at this comparison of the US to worldwide economic growth from 2013 to 2015:

Regional Growth Rate 2013 2014 2015
World 2.3 2.6 2.4
Developed Countries 1.0 1.7 1.9
United States 1.5 2.4 2.4
Africa 3.4 3.1 3.7
East Asia 6.3 6.1 5.6
China      
South Asia 4.8 6.2 6.0
India 6.4 7.1 7.2

 

The next President of the United States must cut taxes, slash regulations, open trade, and let the free market work.

What do you think? Email me at craig@craighuey.com

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