Standard Poor and Wealthiest Americans

wealthiest Americans: Now, an analysis by the rating agency Standard Poor lends its weight to the argument: The widening gap between the wealthiest Americans and everyone else has made the economy more prone to boom-bust cycles and slowed the five-year-old recovery from the recession. , according to Canadian Broadcasting Corporation, CBC. The rising concentration of income among the top one per cent of earners has contributed to S P cutting its growth estimates for the economy. In part because of the disparity, it estimates that the economy will grow at a 2.5 per cent annual pace in the next decade, down from a forecast five years ago of a 2.8 per cent rate. Economists have long argued that a rising wealth gap has complicated the U.S. rebound from the Great Recession. Economic disparities appear to be reaching extremes that "need to be watched because they're damaging to growth," said Beth Ann Bovino, chief U.S. economist at S P. Even Republicans are talking about America growing wealth gap: Neil Macdonald Thomas Piketty and the economics of inequality Rich/poor gap the biggest threat to global economy: Davos (news.financializer.com). As reported in the news.