Updated GDP Growth Chart, By Request May 31, 2014Posted by geoff in News.
Andy (of The Snausages and AoSHQ) asked me to update this chart showing the real GDP growth rate since 1950. As you can see, there’s a general downward trend that suggests that unless proactive steps are taken, we’ll soon be enjoying 2% growth numbers. In our good years.
It’s worth noting that the FY2015 White House budget predicts GDP growth of ~3.3% for 2015 – 2017, and then has it dropping down to 2.3% in 2021 and beyond. I think their near-term growth assumptions are optimistic, and their long-term projection is realistic, but pathetic.
Here’s the thing. If you’re truly concerned about the long-term welfare of these United States, you try to take significant action to ensure that welfare, especially when predictions based on your policies show tepid future growth. On the other hand, if you’re a political animal who thinks the GDP is just a big ole pot of limitless money that should be used to advance liberal causes, I suppose you don’t worry so much about future growth. Or growth.
Andy, take it and do with it what you will.