Under that scenario, Social Security, health care, and interest will be responsible for 77 percent of
nominal spending growth.
These three categories are responsible for 83 percent of
nominal spending growth over the next decade and 150 percent of spending growth as a share of GDP (with other budget categories shrinking).
Not exact matches
But we believe a moderate rise in the dollar is more likely, and the support for profit margins from better wages,
spending and
nominal growth reinforces our broadly positive view on risk assets and equities in particular.
Nominal spending matched income
growth since June at 1.1 % or 4.4 % annualized.
That alternative, which Market Monetarists like David Beckworth, Lars Christensen, and Scott Sumner have been pushing ever since the Great Recession started, is for the FOMC to keep its collective eye, not on the inflation rate, but on the level and
growth rate of
nominal GNP — a measure of the flow of
spending on goods and services in the economy.
Well, I would like to posit that it is at least tangentially related in that from what I remember from the early days of the Reagan Administration, he cut a deal with Congress on
spending that would have had
nominal growth but real cuts based on then projected inflation.
The March quarter ABS capital expenditure (Capex) survey suggests
growth of around 6 1/2 per cent in
nominal business investment
spending in 2003/04, with this
growth skewed towards the buildings and structures component.
The lack of
growth in
nominal incomes and
spending in the economy, in turn, makes it difficult for businesses and banks to improve their balance sheets and is reinforcing the reluctance of Japanese banks to lend.
The study claims that although there will be similar
growth in
nominal spending to that in the last Parliament, resources will shrink due to rising costs and increasing pupil numbers.
Although there will be similar
growth in
nominal spending to that in the last Parliament, resources will shrink because of rising costs and increasing pupil numbers, it says.