This edition of OECD's periodic survey of the US economy assesses recent economic develoments and examines challenges the US faces including employment limits that are slowing economic growth, fiscal sustainability, household debt, improving primary and secondary education, and financing higher education. This book includes StatLinks, URLs under tables and graphs linking to Excel® spreadsheet files containing the underlying data.
Executive Summary
Assessment and Recommendations
Chapter 1. Challenges Facing the US Economy
-Longer-Term Economic Performance
-The Economic Situation
-The Macroeconomic Policy Stance
-Near Term Prospects and Risks
-Longer-Term Challenges
-Annex: Progress in Structural Reform
Chapter 2. Potential Employment
-Employment Limits are Slowing Economic Growth
-Labour Force Participation
-Policies to Increase the Participation Rate
-Disability Benefits
-The Minimum Wage
-Annex: The OECD's Decomposition of Potential Output
Chapter 3. Ensuring Fiscal Sustainability
-The Federal Budget Outlook
-Budget Rules
-Entitlement Programmes
-Taxation
-Concluding Remarks
Chapter 4. Household Debt
-Household Debt and the Housing Market
-Vulnerability of Indebted Households
-The Implication for US Policies
-Conclusion
Chapter 5. Improving Primary and Secondary Education
-Dimensions of the Problem
-Why do US School Students Perform Below the International Averageoe
-Centralisation and Academic Schooling Standards
-Past Attempts to Improve Schooling Performance Fell Short
-A Stronger Federal Role to Raise Academic Standards
-Early Signs of Progress
-The Urgent Need for Challenging Standards
-Conclusion
Chapter 6. Financing Higher Education
-Background
-More Needs to be Done
-Loans
-Pell Grants
-Tax Relief
-State Provision
Annex: Implementation of Income Contingent Loans