Posted 2/13/2024, 2:21:55 AM
US Economy Powers Ahead of Europe's Thanks to Massive Stimulus, Flexible Labor Laws, Robust Jobs Market, Energy Independence, and Immigration
- Poured trillions into the economy through stimulus packages, the largest influx of federal money in history
- Flexible labor laws allowed companies to adapt to challenges, leading to productivity gains
- Strong jobs market with unemployment below 4%, driving consumer spending which makes up 70% of economic activity
- Energy independence as a net exporter insulated the US from external shocks like the Ukraine invasion
- Immigration helps resupply labor force to offset retirement of baby boomers and spur growth
