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January 27, 2012

2011 GDP Growth Rate: 1.7%

The Q4 annualized quarterly rate is supposebly (which is like supposedly, except with the added implication that you'd have to be extra dumb to accept this at face vaule) 2.8%, which isn't good, but the actual rate for the year 1.7%.

By the way, Bush's average growth rate from 2001-2005 was 2.8%. More than a point higher than Obama's "recovery." And if you remember, Bush's recovery was considered horrible, virtually a depression.

Now when Obama hits 2.8% for one quarter -- just one quarter -- it's great. That 1.7% rate for all of 2011? Also pretty great.

That said, I was listening to Adam Carolla, and he and Allison Rosen were discussing the economy and its likely determinative roll in the 2012. Carolla successfully diagnosed the situation -- It's not what the economy's actually doing, but how the media will spin it -- but then added that it was his impression things were in fact getting better.

That worries me. I always like getting the input of less-partisan types, because it's their beliefs, not ours, that swing elections.

And even after noting that of course the media is going to spin this as an improving economy, he said he sort of felt like it was an improving economy.

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posted by Ace at 01:24 PM

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