Brian Austin Jake Howry Sarah Lenau Brian Murphy
Growth is not as fast as prior recoveries The domestic economy has pulled out of the recession, as demonstrated by consumption, investment, and exports/imports The labor market is improving but is still far from that of a healthy economy
While GDP has improved during the present recovery, growth has been substantially slower than that of prior recessions
Annualized Rate of Business Investment From Prior Quarter
Deficit expanded 2.5% to $40.4 billion in March from the previous month U.S. exports and imports both increased at a respective 3.2% and 3.1 % Trade subtracted 0.61% from first quarter GDP
Core CPI up 0.9% from a year ago At 44 year low Core PPI up 0.9% from a year ago Core PCEPI up 1.4% from a year ago
“It’s great that the stock market has bounced back. But if you’re still looking for a job, it’s still a downturn” ~ Barack Obama, May 12, 2010
Unemployment U6 (Underemployment)
Census hiring/firing Stimulus to be spent Discouraged workers Business confidence about recovery Housing The labor market will not substantially improve by November
Speed Cost to Gov. Past Successes Volume of Jobs Created Long Term Viability Overall Do Nothing Corporate Tax Cut Tax Credit for Hiring Gov Work Programs Small Business Loans indicate advantages - indicates disadvantages
“Small business lending conditions are much tighter than they’ve been at any time in recent memory. What we need to do is find a balance where the banks are not so conservative and so restrictive that they turn away borrowers who they can reasonably expect to repay and to be creditworthy.” ~Chairman of the Federal Reserve, Ben Bernanke
Cut the max corporate tax rate to 25% Increase funding to the Small Business Lending Fund Expand access to small business loans Focus incentives on businesses following the lean start-up model