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S&P: Wealth gap is slowing U.S. economic growth

By The Associated Press

This article was published August 5, 2014 at 11:01 a.m.

WASHINGTON — The widening gap between the wealthiest Americans and everyone else has made the economy more prone to boom-bust cycles and slowed the 5-year-old recovery from the recession, rating agency Standard & Poor’s said in a report Tuesday.

The rising concentration of income among the top 1 percent of earners has contributed to S&P’s cutting its growth estimates for the economy. In part because of the disparity, it estimates that the economy will grow at a 2.5 percent annual pace in the next decade, down from a forecast five years ago of a 2.8 percent rate.

Read Wednesday's Arkansas Democrat-Gazette for more.

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FreeSpiritMan says... August 5, 2014 at 11:19 p.m.

They just now figuring this out?

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