Jobs/Economy

Unless offsetting actions were taken to reverse the accumulation of additional government debt, the nation’s capital stock, its future output, and people’s future incomes would tend to be lower than they otherwise would have been.  Verify at Page 4
If policymakers wanted to boost the economy in the near term while seeking to achieve long-term fiscal sustainability, a combination of policies would be required: changes in taxes and spending that would widen the deficit now but reduce it later in the decade.  Such an approach would work best if the future policy changes were sufficiently specific and widely supported so that households, businesses, state and local governments, and participants in financial markets believed that the future fiscal restraint would truly take effect.  Verify at Page 4
The unemployment rate climbed to 10.1 percent of the labor force in October 2009, approaching the 10.8 percent reached in November and December 1982 (which was the highest rate since 1948, when comparable data first became available), and is still at 9.0 percent.  Verify at Page 6
Although findings from studies vary greatly, the weight of the evidence suggest that raising the minimum wage has a negative but small effect on the employment of low-wage workers.   Verify at Page 4
CBO expects that the high levels of business investment and purchases of durable goods that spurred the economy to a 3.7 percent real rate of growth in 1994 will continue into the first part of 1995.  Verify at Page 3
When the economy is operating below potential, the deficit swells as a result of reductions in revenues and increased spending for programs such as unemployment insurance. When the economy is operating above potential, revenues are increased and spending is lower. Verify at Page 9
A tax cut provides short-term fiscal stimulus when it increases consumption or investment demand. Consumption by households is generally stimulated when either after-tax income or lifetime wealth rises because of a reduction in taxes. Investment by businesses is typically stimulated when a tax cut boosts the after-tax return on capital sufficiently to make it profitable to invest more.  Verify at Page viii
The number of people employed rose from 143,734 in 2001 to 145,362 in 2008.  However, the percentage of the population employed dropped from 63.7 percent in 2002 to 62.2 percent in 2008.  Verify here
…periods of high inflation – such as the late 1970s and early 1980s — pushed individuals into higher tax rate brackets and caused revenues to increase rapidly. In response, policymakers cut taxes every few years on an ad hoc basis—five times in the 1970s, for instance.  Verify at Page 14
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