The late 1990s, however, provided a very different economic situation in which a more rapid rate of productivity growth resulted in higher real wages throughout the economy. The online resources listed below provide a wide range of opinions concerning the magnitude of the problems facing the social security system. Part of the reason for this is that forecasts of future social security revenue depend on factors such as future rates of economic growth, the level of future unemployment and labor force participation rates, and similar factors. Different assumptions about such future outcomes result in very different conclusions about the future solvency of the social security system. Full Debate Technological advances allow society to produce more output from the existing mix of resources.
Society clearly gains from the production of either more output or more highly valued output.
Full Debate One of the requirements for economic development in a low-income economy is an increase in the nation's stock of capital. While virtually everyone agrees the the current tax system is excessively complex, there is no tax simplification plan that is universally accepted. The major problem is that most proposed changes in the tax structure will benefit some taxpayers and harm others. After three decades of federal budget deficits, a budget surplus was realized in 1998. In the past, much of the discussion of the federal budget has dealt with the possibly adverse consequences of a federal deficit.