No actually, it wouldn't. This isn't a wealth graph.
Seniors have historically been a "fixed income" cohort with restrained consumer spending. This was a big reason why, prior to 2020, mainstream economists and demographers were saying inflation was basically impossible. The weight of boomers pulling back spending was supposed to be a huge fetter on the economy.
Anyone who says this is normal is gaslighting.
Given that its overwhelmingly healthcare and education, it kind of shows the economy is completely dead in a productive sense. Everything is just caretaker mode. custodial, and in America our healthcare services suck and our education system is dysfunctional by law.
@landlawyerbrian And then when they can't it, they'll bitch about how there is no money in timberland, put the land in a conservation easement out of spite, and beg for the government to give them money for not developing it.
-2.4% to -2.0%
The "wonks" are proclaiming it to be a new American golden age.
The 2020s for economists is like body cams for blacks and social media for women.
Now we can all see how baseless their claims and opinions always were--based on derivatives of derivatives.
Manufacturing, which was in a three-year slide, looks like it's finally on the upswing this year; we've got a ways to go to reverse the damage from '23 through '25, but fingers crossed this upward trajectory holds:
🚨 BREAKING: The Trump administration is reportedly drafting a plan pushed by JD Vance to give federal child care funds to married couples with a STAY-AT-HOME SPOUSE while the other parent works — NYT
The program could be $9K per year for these families
The goal: make it easier for married Americans to let one parent take care of the children, rather than both work and pay others to take care of the children
This could create an incentive for parents to "stay at home with their children"
Apparently, this is similar to a MARCO RUBIO proposal when he was Senator 👀
It sounds like this would be under current federal programs, not new laws passed by Congress