Economic Report of the President | i
Economic Report
of the President
For sale by the Superintendent of Documents, U.S. Government Printing Office
Internet: bookstore.gpo.gov Phone: (202) 512-1800 Fax: (202) 512-2250
Mail Stop: SSOP, Washington, DC 20402-0001
ISBN 0-16-050616-6
Transmitted to the Congress
January 2001
together with
THE ANNUAL REPORT
of the
COUNCIL OF ECONOMIC ADVISERS
UNITED STATES GOVERNMENT PRINTING OFFICE
WASHINGTON : 2001
107th Congress, 1st Session ...................................H.Doc. 107-2
Economic Report of the President | iii
C O N T E N T S
ECONOMIC REPORT OF THE PRESIDENT ......................................
ANNUAL REPORT OF THE COUNCIL OF
ECONOMIC ADVISERS*...................................................................
CHAPTER 1. THE MAKING OF THE NEW ECONOMY ..............................
CHAPTER 2. MACROECONOMIC POLICY AND PERFORMANCE..................
CHAPTER 3. THE CREATION AND DIFFUSION OF THE NEW ECONOMY..
CHAPTER 4. THE NEW ECONOMY IN A GLOBAL CONTEXT ...................
CHAPTER 5. LIVING IN THE NEW ECONOMY .........................................
CONCLUSION: ACHIEVEMENTS AND CHALLENGES IN THE
NEW ECONOMY .................................................................................
APPENDIX A. REPORT TO THE PRESIDENT ON THE ACTIVITIES OF THE
COUNCIL OF ECONOMIC ADVISERS DURING 2000 .............................
APPENDIX B. STATISTICAL TABLES RELATING TO INCOME, EMPLOYMENT,
AND PRODUCTION ............................................................................
1
7
19
55
95
145
187
245
255
269
* For a detailed table of contents of the Council’s Report, see page 11
Page
Economic Report of the President | v
ECONOMIC REPORT
OF THE PRESIDENT
Economic Report of the President | 3
ECONOMIC REPORT OF THE PRESIDENT
To the Congress of the United States:
I am pleased to report that the American economy today is strong. We are
enjoying the longest economic expansion ever recorded, with more than
22 million new jobs since 1993, the lowest unemployment rate in 30 ye