• Harry Arora

Economy: US economic environment stronger than we’ve seen in years...

...Could be a game changer for our policy problems. GDP growth was estimated to be 4.1% for the last quarter, a big number. While there might be some temporary components to it, I think that overall, we are in a much stronger economic environment in the US today than in years. Tax cuts and a friendly regulatory environment have helped in a big way. What is especially exciting is if we can see 3%+ real GDP growth and 5%+ nominal growth for a few years, we will be able to reduce our deficits and improve our fiscal situation. A strong economy would also directly improve the standard of living for the neediest Americans through more jobs and reduce the burden on programs like Medicaid and unemployment insurance.