Happy Days Are Here Again? | KCET
Happy Days Are Here Again?
Milken Institute's Ross DeVol's research shows that the U.S. economy is -- like so many folks in Hollywood -- already in recovery.
From the press release announcing the report, which is titled, From Recession to Recovery: Analyzing America's Return to Growth
"Key points in the forecast:
* Real GDP will grow at 3.5 percent in 2010, 3.7 percent in 2011 and 3.8 percent in 2012. Growth returns to slightly less than 3 percent from 2013 to 2015.
* The U.S. will add 1.8 million jobs in 2010, 3.1 million in 2011 and 2.6 million in 2012.
* Real consumer spending is projected to increase 2.8 percent in 2010, 3.5 percent in 2011 and 3.0 percent in 2012.
* New home construction won't aid economic growth in 2010, but residential fixed investment should jump 26.0 percent in 2011 and 25.7 percent in 2012."
"The recovery is fueled by:
* Economic growth in developing countries, which supports U.S. exports
* Improved business confidence that fosters strong investment in equipment and software
* Consumers making previously deferred purchases of durable goods
* Record-low long-term interest rates
* A benign inflationary environment that will allow the Fed to keep short-term interest rates at zero until late 2010 or even into 2011"
Photo Credit: The image accompanying this post was taken by Flickr user Patrick Hoesley. It was used under Creative Commons license.
Following days of protests against police brutality, the president of the Los Angeles Police Commission president said today the board will take steps to review and revise police policies, with input from the community.
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