ECONOMIC GROWTH PROGRAM POLICY PAPER
The Promise of (and Obstacles to)
America's Emerging Growth Story
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| by Sherle R. Schwenninger and Samuel Sherraden |
Even
as the economy continues to struggle with the ongoing challenge of
household deleveraging and with headwinds from slowing growth in Europe
and Asia, a potentially promising new U.S. growth story is emerging around the oil and gas boom and the revitalization of U.S. manufacturing.
Like
the information technology revolution, the oil and gas revolution will
affect nearly every part of the U.S. economy by lowering the cost of
energy and increasing American competitiveness.
And it will do so
in a way that is inherently supportive of middle-class prosperity
because it creates good-paying middle-class jobs and strengthens
America's tradable sector.
The key missing piece of the story is a
major program of infrastructure investment, which is needed to create
jobs and realize the full potential of America's energy resources and
manufacturing capacity.
by Sherle R. Schwenninger and Samuel Sherraden |
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MORE ON THE ECONOMIC GROWTH PROGRAM
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New America's Economic Growth Program
aims to chart a path through the post-bubble world economy by
advancing pro-growth policy reforms and bringing innovative solutions
to the forefront of public debate.
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