Economic Report of the President, Transmitted to the Congress January 2009 Together With the Annual Report of the Council

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1、EconomicReportofthePresidentTransmittedtotheCongressJanuary2009togetherwithTHEANNUALREPORToftheCOUNCILOFECONOMICADVISERSUNITEDSTATESGOVERNMENTPRINTINGOFFICEWASHINGTON:2009ForsalebytheSuperintendentofDocuments,U.S.GovernmentPrintingOfficeInternet:bookstore.gpo.govPh

2、one:(202)512-1800Fax:(202)512-2250MailStop:SSOP,Washington,DC20402-0001ISBN-13:978-0-16-077918-3CONTENTSPageECONOMICREPORTOFTHEPRESIDENT.............................................1ANNUALREPORTOFTHECOUNCILOFECONOMICADVISERS*...9CHAPTER1.THEYEARINREVIEWANDTHEYEARSA

3、HEAD...........31CHAPTER2.HOUSINGANDFINANCIALMARkETS.............................61CHAPTER3.ENERGYANDTHEENVIRONMENT................................97CHAPTER4.THEBENEFITSOFOPENTRADEANDINVESTMENTPOLICIES................................................................

4、..............127CHAPTER5.TAxPOLICY...........................................................................151CHAPTER6.THELONG-RUNCHALLENGESOFENTITLEMENTSPENDING.....................................................................................................

5、.175CHAPTER7.BALANCINGPRIVATEANDPUBLICROLESINHEALTHCARE...............................................................................................197CHAPTER8.EDUCATIONANDLABOR..................................................217CHAPTER9.ECONOMICREGULATION......

6、...........................................239APPENDIxA.REPORTTOTHEPRESIDENTONTHEACTIVITIESOFTHECOUNCILOFECONOMICADVISERSDURING2008.............261APPENDIxB.STATISTICALTABLESRELATINGTOINCOME,EMPLOYMENT,ANDPRODUCTION..................................................

7、......275*ForadetailedtableofcontentsoftheCouncil’sReport,seepage11EconomicReportofthePresident

8、iiiECONOMICREPORTOFTHEPRESIDENTECONOMICREPORTOFTHEPRESIDENTTotheCongressoftheUnitedStates:TheAmericaneconomyhasconsistentlyprovenitsstrengthandresilienceinthefaceofshock

9、ssuchasnaturaldisasters,highenergyprices,andtheterroristattacksofSeptember11.Theeconomyexperienced6yearsofuninterruptedexpansion,whichincludedare