The “dismal science” of economics commonly focuses on “terrible” news. But there are a lot of favorable developments taking location inside the U.S. economy. We do face important challenges…no query. Recessionary pressures are intense…no argument right here. Presented right here, having said that, is ONLY the “very good” news.
* U.S. exports to the planet of goods and solutions are at record levels.
* A year-finish 2007 Gallup Poll noted that “a lot more than eight in 10 Americans say they are happy with their individual lives at this time, which includes a strong majority who say they are ‘very happy.'”
* In the course of the early 1960s, the 5-year survival price from cancer for Americans was one particular in 3. Currently it is two in 3…continuing to climb…and the highest in the planet.
* For every single dollar of U.S. financial output generated now, we burn much less than half as a great deal oil as 30 years ago.
* Today’s moms and dads, no matter if operating or at household, are spending 4 to six hours a lot more per week with their little ones than did the preceding generation.
* Alcohol-associated visitors fatalities in the most not too long ago reported year dropped by a lot more than half versus 20 years ago.
* The nation’s jobless price averaged four.six% in each 2006 and 2007, the lowest typical in six years, and reduced than typical prices in the ’70s, ’80s, and ’90s.
* The quantity of people today who have quit smoking (46 million) now exceeds the quantity who nevertheless smoke (45 million).
* The American economy added almost seven million net more jobs in the course of 2004 to 2006, and added a lot more than 1.1 million in 2007.
* The sharp decline not too long ago in the 10-Year U.S. Treasury Note yield from about three.85% to three.53% need to lead mortgage prices reduced.
* Substantiated instances of childhood sexual abuse have fallen 49% because 1990. Physical abuse of kids is down by 43%.
* U.S. corporations hold an estimated $611 billion in money on their balance sheets, a “tool” to assist lessen the likelihood of, or decrease the influence of, a recession.
* Much more than 3 million girls participated in higher college sports final year, portion of a record 7.three million total participants.
* The Federal Reserve is anticipated to lower its important brief-term interest price for a sixth time no later than March 18, with a further reduce feasible in April. Debt fees for millions of Americans will decline as a outcome.
* Donations to charity set an all-time higher in 2006, with a total of $295 billion donated by people, foundations, and corporations. As a percentage of GDP, Americans gave twice as a great deal as the subsequent most charitable nation…England.
* Some 68.six% of the two.7 million “Class of ’05” higher college graduates enrolled in colleges & universities, the highest ever.
* Productivity of the typical U.S. worker rose an typical of two.six% annually in the course of the previous 10 years, the biggest gains in 40 years. Increasing productivity is a lengthy-term important to greater requirements of living.
* The U.S. price of household ownership reached 69.two% of households in current quarters, the highest ever, ahead of declining slightly.
* The upward “mobility” of the standard American remains the greatest in the planet. Why? The U.S. economy “rewards” the mixture of difficult function and educational achievement a lot more than ever ahead of…and a lot more than any other nation in the planet.
* Girls earned almost 60% of all bachelor’s degrees awarded in current years, versus 43% in 1970 and 24% in 1950. Girls earned a comparable share of master’s degrees.
* Strong U.S. financial development and incentive-primarily based tax cuts have led government revenues to surge impressively in the course of every of the previous 4 years.
* Typical U.S. life expectancy has reached 78 years (males 75…females 80), the highest ever. This compares to 76 years in 1995, 68 years in 1950, and 47 years in 1900.
* Worldwide financial development need to exceed four.% in 2008 (soon after inflation) for the sixth consecutive year, a improvement not noticed in generations. Robust development makes it possible for millions to rise above poverty.
* Children’s deaths from unintentional injury have dropped by just about 40% because 1987. Bicycle deaths fell 60%, even though firearms-associated deaths fell 72%.
* Air pollution declined 25% more than the previous 30 years even as the population and the economy grew. Water excellent also continues to boost. Much more progress will take place in coming years as corporations see increasing worth in “going green.”
* Median (half a lot more, half much less) loved ones revenue now exceeds $54,000 annually.
* Illicit drug use amongst U.S. teenagers hit a 5-year low of 9.eight% in 2006, down 16% because 2002.
* The U.S. nevertheless accounts for roughly 40% of worldwide analysis and improvement (R&D) spending.
* The Congress now has 90 female members–the highest in history–with 16 in the Senate and 74 in the Property.
* American household net worth in 2007’s third quarter reached $58.six trillion, the highest ever, and 3 instances the total of 18 years ago. Net worth–the distinction involving assets and liabilities–has risen for 19 consecutive quarters. The measure integrated a great deal of the current weakness in housing values.
* A record 29% of males have earned a bachelor’s degree or greater, versus 26% of females, also a record. This compares to a combined 7.7% in 1960. A record 84.six% of adults more than age 25 now have at least a higher college diploma, versus 24.five% in 1940.
* U.S. teen pregnancy and birth prices plummeted to all-time lows in current years, ahead of a slight rise in 2006. The causes? Much more widespread use of birth handle, a lot more function possibilities, and a lot more girls who “just say no.”
* Versatile function schedules are now the norm for 43% of workers, up from 29% in 1992 and 13% in 1985. This makes it possible for higher flexibility for a lot more people today, particularly these with kids.
* The Customer Cost Index has risen an typical of two.7% annually because 1992.
* Roughly 30% of trash was recycled or composted in the most current year, versus 16% in 1990.
* In 1967, only one particular loved ones in 25 earned $100,000 or a lot more (inflation adjusted to 2005). Currently, one particular in six households does. The share of households earning a lot more than $75,000 annually in genuine dollars has tripled from 9% to 27%, even though the share of households earning involving $five,000 and $50,000 in genuine dollars has fallen by 19% because 1967.
* Seat belt usage by Americans was at 81% in 2006, versus 49% in 1990 and 14% in 1983.
* The price of auto-associated injury per mile traveled in 2005 was the lowest because the Interstate Freeway Method was constructed 50 years ago.
* Corporate income now represent a lot more than 12% of national revenue, up from 7% in 2001, and the highest because record maintaining started in 1947. Robust corporate earnings are the backbone of increasing stock costs.
* Violent crime general is down 55% because 1993, with violence by teens down 71%. College violence has declined by half from a decade ago.
* The quantity of abortions performed in this nation has declined by one particular-third because 1990 and is now at a record low.
* The U.S. function of dominance in the worldwide economy in current years has been as clear-reduce as at any time because the 1950s.