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What Accounts for the Slow Growth of the Economy After the Recession? - Infographicimage
The U.S. economy has grown slowly since the deep recession in 2008 and 2009. In the three years following the recession, the cumulative growth of the nation’s output—real (inflation-adjusted) gross domestic product—was nearly 9 percentage points below the average seen in previous economic recoveries since the end of World War II, or less than half the average growth during those other recoveries.      CBO Releases Report on Costs of Pay and Benefits in the U.S. Militaryblog post
In its fiscal year 2013 budget request, the Department of Defense (DoD) requested about $150 billion to fund the pay and benefits of current and retired members of the military. That amount is more than one-quarter of DoD’s total base budget request (the request for all funding other than for military operations in Afghanistan and related activities). Today CBO released a report, Costs of Military Pay and Benefits in the Defense Budget, that describes the elements of military compensation and their costs in the 2013 budget request. CBO Releases Report Examining the Reasons for the Slow Growth of the Economy Since the Recent Recessionblog post
CBO regularly issues reports on the state of the budget and the economy, and today CBO released a study, What Accounts for the Slow Growth of the Economy After the Recession?, with an accompanying infographic providing background information that helps to explain the economic projections included in those reports. What Accounts for the Slow Growth of the Economy After the Recession?report
The U.S. economy has grown slowly since the deep recession in 2008 and 2009, which was triggered by a sharp drop in house prices and a subsequent financial crisis. During the three years following the recession (that is, the third quarter of 2009 through the second quarter of 2012), the economy’s output grew at less than half the rate exhibited, on average, during other recoveries in the United States since the end of World War II. Costs of Military Pay and Benefits in the Defense Budgetreport
For fiscal year 2013, the Department of Defense (DoD) requested about $150 billion to fund the pay and benefits of current and retired members of the military. That amount is more than one-quarter of DoD’s total base budget request (the request for all funding other than for military operations in Afghanistan and related activities). |
