This is decline folks. Though it is by no means irreversible. This country has long suffered under presidents and congresses which were more interested in perpetuating a Washington centered agenda than in creating a climate for real prosperity. A little regulation here. An extra tax there. A sweetheart deal here. A war in some Middle Eastern corner we have no business in there. Each year the economy is eroded. Each year our debt increases. Each year the quality of leadership appears to decline. Each year the surveillance state increases its power over the citizenry. And in the background the Fed continues to manipulate things, mostly making things harder for average citizens.
Given all the red tape and government created barriers to entry in the economy we are lucky we aren’t worse off.
(From CNS News)
The United States has now gone a record 10 straight years without 3 percent growth in real Gross Domestic Product, according to data released by the Bureau of Economic Analysis.
The BEA has calculated GDP for each year going back to 1929 and it has calculated the inflation-adjusted annual change in GDP (in constant 2009 dollars) from 1930 forward.
In the 85 years for which BEA has calculated the annual change in real GDP there is only one ten-year stretch—2006 through 2015—when the annual growth in real GDP never hit 3 percent. During the last ten years, real annual growth in GDP peaked in 2006 at 2.7 percent. It has never been that high again, according to the BEA.