Thanks to President Biden, US Gross Domestic Product (GDP) increased by 5.7% in 2021.

BartenderElite said:
The economy is a mix right now - there are some terrible indicators, but some very good ones too.

It's working for many people. A downturn after Trump's incompetence and mismanagement of COVID was inevitable. Give this one some time.
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except the downturn happened after Biden "fixed" the economy the Trump "mismanaged"......
 
Hawkeye10 said:
https://www.investopedia.com/terms/g/gdp.asp
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I spent a little time going over it. Im not sure what is most commonly used.. I think it's real GDP.
But GDP is only a reflection of growth/contraction..per capita income /CPI and so forth give a clear er pic.
1. we are in a shrinking economy
2. inflation is eroding purchasing power
3. UE claims have been rising
4. housing starts are down


Nominal GDP is an assessment of economic production in an economy that includes current prices in its calculation. In other words, it doesn’t strip out inflation or the pace of rising prices, which can inflate the growth figure.

Real GDP is an inflation-adjusted measure that reflects the number of goods and services produced by an economy in a given year, with prices held constant from year to year to separate out the impact of inflation or deflation from the trend in output over time. Since GDP is based on the monetary value of goods and services, it is subject to inflation.
 
BartenderElite said:
Inflation started before he left office.
He was a terrible economic President.
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JAN 2020. (it's gotten even worse as 2020 continues)
https://thehill.com/opinion/finance/590451-how-biden-torched-the-trump-recovery/
the Biden White House celebrated its first-year economic achievements by tweeting: “When @POTUS and @VP were sworn in, our economy was on the brink of collapse.”

That is a flat-out lie.

As Biden first set foot in the Oval Office a year ago, real GDP was growing at 6.3 percent, inflation was 1.4 percent, the price of gasoline was $2.39 a gallon and Michigan’s consumer sentiment index stood at 79. Today, real growth has slowed to just over 2 percent, inflation is at 7 percent, gas is up to $3.31 a gallon and the Michigan Index is 68.8.

In addition, real wages dropped 2.4 percent over the past year, with inflation overwhelming pay hikes after several years of gains under President Trump.

In just one year, Biden has managed to torch an economy that was recovering robustly when he took office. One bad decision after another, compounded, to be sure, by certain events beyond his control, have scuttled the turnaround that was well underway the day he became president.

His major mistakes? Depressing oilfield investment, reversing U.S. oil output and leaving us at the mercy of OPEC and higher gasoline prices; stoking out-of-control federal spending with the Democrat-only American Rescue Plan (ARP), sidelining millions of workers and fueling an ongoing labor shortage; delivering mask mandates that have exacerbated that worker shortage; ignoring the resulting inflation until voters rebelled, demanding the Federal Reserve take what may be harsh measures to change course.
 
Hawkeye10 said:
Not anymore, recession has been redefined to "We are in a recession when power says we are in a recession....SHUT UP!".
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In Joke Biden's world, economics run like they would for Barbie or Paris Hilton. That is, so long as there's checks in the checkbook and the credit cards work you can spend all the money you want and everything will magically get paid for...

Welcome to the latest radical-Leftist economic theory: Modern Monetary Theory, the basis of Joke's economics...
 
T. A. Gardner said:
In Joke Biden's world, economics run like they would for Barbie or Paris Hilton. That is, so long as there's checks in the checkbook and the credit cards work you can spend all the money you want and everything will magically get paid for...

Welcome to the latest radical-Leftist economic theory: Modern Monetary Theory, the basis of Joke's economics...
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They believe that reality is what ever they dream so long as they dream hard enough.

They are insane.
 
Hawkeye10 said:
They believe that reality is what ever they dream so long as they dream hard enough.

They are insane.
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just-remember-its-not-a-lie-if-you-believe-it-17371963.png
 
T. A. Gardner said:
just-remember-its-not-a-lie-if-you-believe-it-17371963.png
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And a part of why it is a cult is that they make themselves believe their lies so that they can sell them better. Once people are in that deep they would rather die then admit the truth, which is why trying to talk them down does not work.

Only pain can work now, so we are going to have a shit ton of pain.

Buckle Up.
 
gemini104104 said:
As a result of mitigating the disastrous economic affects of the former lawlessly hacked in tRump atrocity and its COVID-19 enabling influence decimating the domestic and global economies, it appears President Biden and Team have made extraordinary progress at reversing the impact that COVID-19 had on humanity and its economies. This as a result of creating the highest GDP rate in 37 years as of 2021. So where is the uptick in President Biden's approval rating in this regard, in particular, or is the un-American media propaganda sources of the tRump sewer with its seditious repukes still cooking up those bogus and Faux anti Biden and anti-American and anti humanity unrealistic polls?

Which states contribute the most or the least to GDP?
California, Texas, New York, Florida, and Illinois have the highest state GDP in the US. Combined, these states contribute 41% of the national GDP.

The states with the lowest GDP include Vermont, Wyoming, Alaska, Montana, and South Dakota. The combined GDP of these states accounts for 1.1% of US GDP.

To learn more about the US economy and the COVID-19 recovery, visit the COVID-19 Impact and Recovery Hub."

https://usafacts.org/articles/how-d...UuNbFId_RpOfxFpfLbS4_oreYhyAUfLl6jCcM0hNV12Lk
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ECONOMY
GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal

That follows a 1.6% decline in the first quarter and was worse than the Dow Jones estimate for a gain of 0.3%.

https://www.cnbc.com/2022/07/28/gdp-q2-.html

Thanks to Biden
 
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