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Document Information

Type: Economic research report
File Size: 1.72 MB
Summary

This is page 4 of a Standard & Poor's economic research report dated August 5, 2014, titled 'How Increasing Income Inequality Is Dampening U.S. Economic Growth.' The document analyzes the negative impact of the widening wealth gap on GDP, citing statistics from the OECD, CBO, and IMF, and suggests educational attainment as a potential remedy. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was produced as part of a congressional investigation.

Timeline (1 events)

2011
OECD review of income inequality ratios
Global/US
OECD

Locations (2)

Location Context

Key Quotes (4)

"Standard & Poor's sees extreme income inequality as a drag on long-run economic growth."
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Quote #1
"We've reduced our 10-year U.S. growth forecast to a 2.5% rate."
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Quote #2
"The U.S. ratio is much higher, at 14-to-1."
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Quote #3
"The U.S. Gini coefficient, after taxes, has increased by more than 20% from 1979--to 0.434 in 2010"
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Quote #4

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