economic report of the president • february 2010transmitted to the congress february 2010
together with the annual report
of the council of economic advisers
econom ic
re p ort
of the
pre s i d ent
coverPROOF.indd 1
12/28/09 10:48 AM
For sale by the Superintendent of Documents, U.S. Government Printing Office
Internet: bookstore.gpo.gov Phone: toll free (866) 512-1800; DC area (202) 512-1800
Fax: (202) 512-2104 Mail: Stop IDCC, Washington, DC 20402-0001
ISBN 978-0-16-084824-7
transmitted to the congress
february 2010
together with
the annual report
of the
council of economic advisers
united states government printing office
washington : 2010
economic
re p ort
of the
pres ident
iii
C O N T E N T S
ECONOMIC REPORT OF THE PRESIDENT ...........................................
1
ANNUAL REPORT OF THE COUNCIL OF ECONOMIC ADVISERS* 11
CHAPTER 1.
TO RESCUE, REBALANCE, AND REBUILD ..............
25
CHAPTER 2.
RESCUING THE ECONOMY FROM THE GREAT
RECESSION ........................................................................
39
CHAPTER 3
CRISIS AND RECOVERY IN THE WORLD
ECONOMY ........................................................................
81
CHAPTER 4.
SAVING AND INVESTMENT ....................................... 113
CHAPTER 5.
ADDRESSING THE LONG-RUN FISCAL
CHALLENGE ..................................................................... 137
CHAPTER 6.
BUILDING A SAFER FINANCIAL SYSTEM .............. 159
CHAPTER 7.
REFORMING HEALTH CARE ...................................... 181
CHAPTER 8.
STRENGTHENING THE AMERICAN LABOR
FORCE ................................................................................. 213
CHAPTER 9.
TRANSFORMING THE ENERGY SECTOR AND
ADDRESSING CLIMATE CHANGE ............................ 235
CHAPTER 10. FOSTERING PRODUCTIVITY GROWTH
THROUGH INNOVATION AND TRADE ................. 259
REFERENCES
............................................................................................... 285
APPENDIX A. REPORT TO THE PRESIDENT ON THE
ACTIVITIES OF THE COUNCIL OF
ECONOMIC ADVISERS D