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Base salaries continued to rise, though far below the increases of the last few years.
But the remarkable productivity increases of the last three years are in fact solid.
"Tax increases of the magnitude necessary for this amendment would hurt," Mr. Bush said.
"The 8percentt rental increases of the past two years were unprecedented and could not be sustained," he said.
For the richest Americans, then, the longevity increases of the past fifteen years have been the equivalent of curing cancer.
Nonetheless, some think growth is slowing down from the consistent double-digit price increases of the past few years.
But with the public finances in such a mess, it is clear the increases of the 2010s won't be on the same scale the NHS has seen previously.
The fact that interest rates remain low, despite the Fed's rate increases of the last two years, is a big reason.
That emphasis suggests that the trajectory of desktop PC performance increases of the last two years will not slow in the near future, but actually accelerate.
Mr. Bush was right to say that continuing the big spending increases of the last few years could become a "dangerous road to deficits".
To be sure, many consumers say they continue to feel flush because of the smart wage increases of the last four years and long-term stock market gains.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com