It appears that 2018 will be the first year since 2005 that annual economic growth will be at least 3 percent. Considering this 13-year period of economic stagnation, 3 percent is welcomed. But growth could and should be higher. Economic policy should now be geared to stimulate even greater rates of growth.
The result of slow economic growth has been devastating. Because the lack of growth provided few opportunities, millions of college graduates are underemployed, meaning they were forced to accept jobs that did not require a college degree. Many, particularly those with high college debt, question the value of a college degree. This could lead to a less-educated workforce.
The policy of the prior administration made it easy for workers to stay out of the workforce since payments of food stamps increased, welfare payments increased as the work requirement was dropped, and there was free health care available to everyone. Free food, free income, free healthcare, and the lack of opportunity kept these discouraged workers out of the labor force. Further complicating the situation, the problem of long-term idled workers often leads to some disturbing social problems, like increased crime.
https://fee.org/articles/how-to-get-4-annual-gdp-growth-again/
The result of slow economic growth has been devastating. Because the lack of growth provided few opportunities, millions of college graduates are underemployed, meaning they were forced to accept jobs that did not require a college degree. Many, particularly those with high college debt, question the value of a college degree. This could lead to a less-educated workforce.
The policy of the prior administration made it easy for workers to stay out of the workforce since payments of food stamps increased, welfare payments increased as the work requirement was dropped, and there was free health care available to everyone. Free food, free income, free healthcare, and the lack of opportunity kept these discouraged workers out of the labor force. Further complicating the situation, the problem of long-term idled workers often leads to some disturbing social problems, like increased crime.
https://fee.org/articles/how-to-get-4-annual-gdp-growth-again/