Comments on: 2,000 Twitter Followers……thank you all

By: Alyssa Basulto

Alyssa Basulto — Fri, 11 Nov 2011 16:12:20 +0000

While I can appreciate the points in 2,000 Twitter Followers……thank you all | TrueBlueBlood, I am sick and tired of hearing about the “economic recovery”. The Federal government borrowed and spent $6.1 trillion during the last 4 years to generate a cumulative $700B rise in the nation’s Gross domestic product. This means we’ve borrowed and spent $8.70 for every $1 of nominal “economic growth” in GDP. In constant dollars, GDP is flat, we got no “growth” at all for the $6.1T. In constant dollars, the GDP in 2011 might return to the 2007 level, if the economy continues “growing” at the same pace reached in the first ninety days of 2011. If not, then the Gross Domestic Product will actually be below pre-recession levels. There is no economic recovery, the facts prove this.

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