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Marc Goldwein, industry influencer, states that nominal growth is likely to average between 3.5% and 4% over the long term, assuming inflation returns to target levels.
Goldwein also notes that maintaining a 3% of GDP deficit target could help put debt on a gradually declining path, while still allowing for flexibility in the event of recessions or fiscal emergencies.
Goldwein has previously reported that the U.S. consumer price index rose 3.3 percent over the past year, with core inflation at 2.6 percent. He also highlighted that above $440,000 in lifetime payroll tax contributions, the link to benefits is fully severed. These data points inform his outlook on long-term fiscal targets and economic growth.