Back to Where We Began. Finally
The American economy has finally reached the size it was before the recession began four years ago, according to the latest gross domestic product report from the Bureau of Economic Analysis.
That may sound like good news, but it’s long overdue, and frankly not good enough. If the economy were functioning normally, it would be significantly greater today than it was before the recession began.
Here’s a look at the level of gross domestic product over the last decade:
Source: Bureau of Economic Analysis, via Haver Analytics
It has taken 15 quarters for the economy to merely recover the ground lost to the recession....MORE