If, after the last recession, the United States had enjoyed the rate of economic growth it has enjoyed in an average recovery, American families would have about $10,000 more income per family than they now do. But because President Obama imposed unprecedented taxes and regulations, the United States is right now missing around a trillion dollars in expected productivity.4
The book "A Time for Truth: Reigniting the Promise of America" by Ted Cruz argues that if the U.S. had experienced typical economic growth following the last recession, families would have significantly higher incomes. Specifically, Cruz claims that American families could be earning about $10,000 more today compared to their current earnings.
Cruz attributes this economic shortfall to the tax policies and regulations implemented during President Obama's administration. He suggests that these unprecedented measures have resulted in a loss of nearly a trillion dollars in potential productivity for the country, impacting the financial well-being of American families.
