The country's tepid growth in its gross domestic product isn't creating enough good jobs to build a strong middle class, according to a UCLA report released Wednesday. ...
Real GDP growth — the value of goods and services produced after adjusting for inflation — is 15.4% below the 3% growth trend of past recoveries, wrote Edward Leamer . . ..
"It's not a recovery," he wrote. "It's not even normal growth. It's bad." ...
Young adults are facing staggering student loan debt that will force them to put off buying homes until later in life, said senior economist David Shulman.
Outstanding student loans have tripled since 2004, according to Federal Reserve Bank figures. In 2012, public and private student loan levels reached $966 billion.
"Never before have so many young people been saddled with so much non-mortgage debt, and that burden will keep them out of the home buying market for years to come," Shulman wrote.
