Chapter 1, Four Years in Review and the Years Ahead, reviews economic progress over the course of the Biden-Harris Administration and presents the Administration’s official forecast for the decade ahead.
Chapter 2, How Remote Work is Reshaping the Economy, tracks the evolution of remote work and describes the economic implications of its diffusion in the post-pandemic labor market.
Chapter 3, Aligning the International Tax System with the Globalized Economy, explains the challenges that gave rise to the Global Tax Deal and how the Global Tax Deal addresses these challenges.
Chapter 4, Expanding and Strengthening U.S. Health Insurance, reviews the many recent policies undertaken by the Biden-Harris Administration to help individuals and families access affordable health insurance coverage.
Chapter 5, Achieving a Net Zero Carbon Dioxide Emissions Economy in the United States, reviews the economics of moving to net zero CO2 emissions through four major efforts: eliminating CO2 emissions from U.S. electricity production, expanding electrification, decarbonizing economic activities that are difficult to electrify, and using negative emissions technologies to capture and store emitted carbon that would be comparatively more costly to eliminate.
Chapter 6, America’s Role in International Capital Flows, explores the recent evolution of international investment flows during the Biden-Harris Administration, with a focus on the financial account of the U.S. balance of payments.
Chapter 7, The K-12 Education System, reviews the state of U.S. elementary and secondary schools and their important role in promoting human capital development and economic growth, along with the challenge of insufficient educators’ labor supply.
Read the full report HERE.
Thank you Biden for a competent government bringing the country back in order -just in time for the morons to elect an idiot GOP president to screw it up again.
Pretty good jobs report to finish up the year. Non-supervisory ages up at roughly the pace of inflation in December, nicely ahead of inflation for all of Q4. All-employees hourly earnings well ahead of inflation. Hiring is still healthy, though not in retail nor manufacturing.
Wages. Not ages.
December factory orders data were released today. Looks like unfilled orders have stalled, though at a very high level:
https://fred.stlouisfed.org/seriesBeta/AMTMUO
Typically, a downturn in unfilled orders either leads recession, or is coincident. The one exception in the picture is from around 2016. That’s when oil prices tanked and caused a collapse in oil and gas field investment. Low energy costs buoyed the rest of the economy. This time, the stall is widespread. Still unfilled orders are quite high in a number of sectors, so maybe this time is different.
Is there a New Deal Democrat in the house?
The strong labor report today signals the end of the long Biden Recession and the start of the Trump Recovery. Eh, Antoni?
Chapter 3, Aligning the International Tax System with the Globalized Economy has some interesting discussions of transfer pricing abuse. Which would be nice if the next Administration decides to enforce the transfer pricing rule. But we know Trump will say no.