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The Spectacle Blog
In January I noted that real GDP had finally climbed back to its pre-recession levels, three years after the recession began. With Friday's BEA downward revisions of growth, though, that is no longer the case. Real GDP still has not fully recovered.
Political Calculations has created this animation to show where we thought we were, and where we really are:
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More Blog Posts by Joseph Lawler
http://spectator.org/blog/2011/08/01/real-gdp-never-recovered
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Big Java| 8.1.11 @ 1:33PM
Oh, we know where we are.
Clint| 8.1.11 @ 1:38PM
Obamian Keynesian Economics Fails.
The Peter Principle Affirmative Action AkinskyBoy Hire Needs To Be Fired.
The Tea Party Rebellion Is Here & Now.
Stand & Fight.
solo| 8.1.11 @ 1:43PM
Whaddaya know.....
The 'economic collapse' and the "Bush Recession" allegedly inherited by Little Barry are now "The Good Old Days"!
Gee....couldn't have seen that coming, huh?
America's corporations did because they clammed up on any plans for expansion the day after Obama was elected.
You see....they've seen this movie before. It was called: "Carter And The Democrats Do America".
Bob| 8.1.11 @ 2:08PM
Ms. Bachmann says we are becoming another Greece. She was asked to find Greece on a world map. She looked all over the Asian continent but couldn't find it. Doesn't she know Greece is in South America?
VCR| 8.1.11 @ 2:59PM
How stupid. President Osama could have told her that it is one of the 57 states he has visited.
Wayne | 8.1.11 @ 3:13PM
I think the Von Mises people would call "real GDP" an oxymoron. But that aside does anyone doubt that we are really in the second dip of a double dip recession?
solo| 8.1.11 @ 4:05PM
I say we demand that the politicians use the same "Base Line" for judging economic expansion as they do for their "Base Line Budgeting":
Anything less than 8% growth in the GDP should be considered a "cut" in economic growth.
Do you think they'd go for that?