America's Emerging Growth Story

ECONOMIC GROWTH PROGRAM POLICY PAPER

The Promise of (and Obstacles to)  America's Emerging Growth Story

by Sherle R. Schwenninger and Samuel Sherraden

Even as the economy continues to struggle with the ongoing challenge of household deleveraging and with headwinds from slowing growth in Europe and Asia, a potentially promising new U.S. growth story is emerging around the oil and gas boom and the revitalization of U.S. manufacturing. Like the information technology revolution, the oil and gas revolution will affect nearly every part of the U.S. economy by lowering the cost of energy and increasing American competitiveness. And it will do so in a way that is inherently supportive of middle-class prosperity because it creates good-paying middle-class jobs and strengthens America's tradable sector. The key missing piece of the story is a major program of infrastructure investment, which is needed to create jobs and realize the full potential of America's energy resources and manufacturing capacity. The Promise of (and Obstacles to) America's Emerging Growth Story by Sherle R. Schwenninger and Samuel Sherraden

MORE ON THE ECONOMIC GROWTH PROGRAM New America's Economic Growth Program aims to chart a path through the post-bubble world economy by advancing pro-growth policy reforms and bringing innovative solutions to the forefront of public debate.