U.S. GDP Growth Is In a Race To the Bottom

Wow…today the Bureau of Economic Analysis released its final first quarter estimate of U.S. annual GDP growth, and it’s not pretty.  Real GDP contracted 2.9%, far greater than the BEA’s original estimate of 0.1% growth.  For those who are alarmed, you should be.  A comparison of the United States to the G20 countries shows that we are only one of three member countries that experienced negative growth in the first quarter, on par with Italy and South Africa.  Even uber-socialist France, which experienced no growth at all, outperformed the United States.

If the United States cannot outgrow the G20 countries, can we try to compete with – oh, I don’t know – Venezuela?

Comments (1)

Trackback URL | Comments RSS Feed

  1. Brian Williams. says:

    With economic “growth” like this, it is getting harder and harder to catch up. We would need at least 6% growth per quarter for the rest of Obama’s presidency just to match the AVERAGE economic recovery after a recession. And we’d need at least 8% growth per quarter for the rest of Obama’s presidency to match the REAGAN economic recovery.

Leave a Reply

If you want a picture to show with your comment, go get a Gravatar.