The United States after the great recession: the challenge of sustainable growth
- The Johns Hopkins University’s School of Advanced International Studies (United States)
- The Brookings Institution Center and the Center on International Cooperation at New York University (United States)
- The Brookings Institution, Washington, DC (United States)]
The paper outlines the strengths and weaknesses of the U.S. economic growth model, assesses its’ ability to respond to the key economic, environmental and social challenges currently facing the U.S. and proposes policies that if adopted would move the U.S. onto a more sustainable growth path. The paper provides scenarios of projected future growth trajectories, as well as recommendations for specific policies in key areas: employment, infrastructure, energy and fiscal rebalancing. To reach this goal this paper focuses on four areas for action: Increasing employment, which is the most urgent priority to accelerate recovery from the Great Recession, while addressing underlying structural issues that have led to a decade of poor economic outcomes for most citizens; Investing in the future, as the key marker of whether the United States is prepared to make farsighted decisions to improve education, build new infrastructure and increase innovation; Maximizing an increased energy endowment in a way that grows the economy, while reinforcing the trend towards reducing resource demand and reducing greenhouse gas emissions; and, Fiscal rebalancing, where the United States must insulate economic recovery from the process of fiscal reform while reducing and stabilizing debt over the long term. Finally, we argue that President Obama can re-energize America’s global leadership if he builds on a platform of domestic actions that enhance the sustainability of America’s society and economy.
- Research Organization:
- The Brookings Institution, Washington, DC (United States). Global Economy and Development
- OSTI ID:
- 22110339
- Resource Relation:
- Other Information: Working Paper 60
- Country of Publication:
- United States
- Language:
- English
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