In the mid-1980s, the United States saw sustained economic growth.
During that time, U.S. employment grew by
.5% over five years.
*JOB GROWTH, IN MILLIONS
Similar growth today would create over 22 million new jobs.
From 1983 to 1987, household income grew by
With similar growth today, household income would increase by $14,600, reaching $65,659 by 2019.
IMPROVED PURCHASING POWER
Household purchasing power grew by more than 13% during the mid-1980s.
If 5.0% economic growth produced the same results today, family purchasing power would increase by $6,900 over the next five years.
With increased economic growth, the federal government would collect additional tax revenue.
*IN HUNDREDS OF BILLIONS
With growth, the federal government could collect more than $622 billion in additional tax revenue in 2020 alone.
Economic growth will help balance the federal budget.
With $622 billion in additional revenue, the projected federal budget deficit would be cut by 75% by 2020.
REDUCING FEDERAL SPENDING
Sustained 5.0% growth would also cause federal government spending as a percentage of GDP to decline by nearly 10%.