Chart of the Day: The US Economy Has Finally Caught Up

I’ll be damned. Wonkblog’s Andrew Van Dam points out today that GDP has finally closed the huge gap with potential GDP that opened up after the Great Recession. He’s right:

I’m not sure I ever believed this would happen, even though CBO predicted exactly this a couple of years ago.

Unfortunately, there’s some bad news embedded here: one or two quarters of GDP above potential is an almost infallible predictor of a recession. All we need now is a housing bubble, a stock bubble, and a spike in oil prices and we’ll have everything in place to kick off 2018.

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We've never been very good at being conservative.

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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