The rate of long-term economic growth is the salient measure of the nation's ability to steady advance its material living standard. The pace of long-term economic growth is likely to be a center of attention in the decades just ahead, as the U.S. economy confronts the need to undertake unprecedentedly large generational transfers of income to pay for the retirement of the huge baby-boom generation as well as large transfers to the rest of the world to meet the debt service costs of the United States' large and still growing foreign debt.
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The rate of long-term economic growth is the salient measure of the nation's ability to steady advance its material living standard. The pace of long-term economic growth is likely to be a center of attention in the decades just ahead, as the U.S. economy confronts the need to undertake unprecedentedly large generational transfers of income to pay for the retirement of the huge baby-boom generation as well as large transfers to the rest of the world to meet the debt service costs of the United States' large and still growing foreign debt.
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Congressional Research Service Reports
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Elwell, Craig K.Long-Term Growth of the U.S. Economy: Significance, Determinants, and Policy,
report,
May 25, 2006;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metacrs10372/:
accessed June 9, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.