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Demographics and GDP: 2% is the new 4%

Three years ago, I wrote Demographics and GDP: 2% is the new 4%. In that post I pointed out that due to demographics, slower GDP growth should have been expected over the last decade (contrary to political nonsense).Yesterday, Greg Ip at the WSJ noted: Mulvaney: "People thought we were crazy" to forecast 2.3% 2017 growth. "We blew that out of the water." (Referring to John Mulvaney, Director of the Office of Management and Budget).
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