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MEDIA SCORES BILLIONAIRE: How many jobs could be created if the U.S. had $2 trillion in gross domestic product?
It depends on how much money we spend, says a report released Monday by the Economic Policy Institute, a conservative think tank.
A new report by the think tank predicts that if the United States spends the same amount of money on health care as it did before the Great Recession, its economy would generate an additional $2.5 trillion in new jobs, a staggering $10.5 to $18 trillion in the first decade of the 21st century.
This is the biggest economic impact the Great Depression could have had.
The report, titled The Jobs Myth: How We Created the Recession and What Can Be Done About It, was released Monday, the same day that the Federal Reserve is scheduled to release its latest economic report.
The Economic Policy institute said it estimates the jobs impact is $10 trillion to $20 trillion.
That is up from $9 trillion the last time the U