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GDP, deficit showing improving economy

According to the latest data from the US Bureau of Economic Analysis, in spite of what some partisan news sites have reported, the GDP growth rate is up and the deficit is down ( almost to the levels they were before the recession). During Obama's first term the GDP growth rate was a meager 1.2%. However, according to the Bureau report, it has only been lower than that in two quarters since the last quarter of 2011, with many quarters having three to four percent numbers. This year's numbers:  2014 1st quarter -2.1%, 2nd quarter 4.6% and 3rd quarter 3.5%. you must keep in mind that the average GDP growth rate from 1947 to 2014 is 3.27, so we are still above average. We still have the largest debt in American history at 17.9 trillion, a high poverty rate at 14.5%, but by the numbers the economy does seem to be producing. Not to say it will stay like this forever, but for now the ship is not sinking. Source: US Bureau of Economic Analysis.   ( Please note I am not a democrat or republican. I am independent, no affiliation to either. These are the official facts as reported by the government. )

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2 points

Hmmmmmm

When i look at those numbers, (not an economist) they seem to contradict. Here's what I DO know.

I don't hear much said about banks failing any more. When I'm at the stores, business is clearly being done at a steady clip. I live in a new neighborhood, and the new homes have been selling well again for the past two years, after it stopped in its tracks five years ago. Defiantly ship not sinking. Depending on your politics this could be because of or in spite off Obama. My opinion on why, is not worth noting, as its based more on emotion than understanding. What U think.

1 point

It seems to be a non partisan report and I agree. Business seems to be doing well in my area too

For those who do not know, GDP measures the national income + output of a nation's economy. In basic terms it compares what people earn compared to what they spent. It is an efficient way to gauge the size and health of an economy.