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The Little GDP that Could (and Finally Did) The Little GDP that Could (and Finally Did)

The Little GDP that Could (and Finally Did)

by Patrick James

October 30, 2009
After four quarters of decline, the U.S. Gross Domestic Product finally saw a quarter of growth. The upswing from negative 6.4 percent to positive 3.5 (that's a change of 9.9 percentage points for you non-mathematicians) since Barack Obama took office is the largest rate of increase over two-quarters since 1980.Like Megan McArdle, I've always been a little skeptical of looking at GDP growth as the be-all end-all barometer of our national health. Then again, Andrew Sullivan writes that while the growth might not be sustainable, and although jobs are still in the pits, "this is a real and tangible gain, given the very real likelihood of total meltdown only a few months ago." I'd have to agree.
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The Little GDP that Could (and Finally Did)