It raises the standard of living, cuts down on government responsibilities, and alleviates many of the ills of society. One of the most important aspects of economic growth is the standard of living. Standard of living is the quality of life based on the possession of necessities and luxuries that make life easier. In a market economy, one of the features of the standard of living is its ability to increase real per capita output. Another feature would be the ability of the standard of living to increase people's free time because of their economic sufficiency.
Government spending is another feature of economic growth.
Because a large amount of the government's income comes from the taxpayers, an improvement in the economy can lead to the creation of a larger tax base. In the end, this money that the government collects, can add to improving the quality of public services. The third aspect of economic growth is domestic problems. As with any nation, the United States faces a multitude of levels of poverty, medical care, inequality of opportunity, and economic instability. Most of these problems are the result of economic need.