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JANUARY 29, 2017
The United States has now seen a record 11 straight years without 3 percent growth in real Gross Domestic Product, according to the advance estimate published today by the Bureau of Economic Analysis. “Real GDP increased 1.6 percent in 2016 (that is, from the 2015 annual level to the 2016 annual level), compared with an increase of 2.6 percent in 2015,” the BEA said in a release put out this morning.
The BEA has calculated GDP for each year going back to 1929. Since 1930, it has calculated the inflation-adjusted annual change in GDP. In the 86 complete years since then, there is only one eleven-year stretch—2006 through 2016—when annual growth in real GDP never hit 3 percent. During the last eleven years, real annual growth in GDP peaked in 2006 at 2.7 percent.
As CNSNews.com has reported before, prior to this period, the longest stretch of years when real GDP did not grow by at least 3.0 percent, as calculated by the BEA, was the four-year stretch from 1930 to 1933. That was during the Great Depression. The United States has also seen four three-year stretches where real annual growth in GDP did not reach 3.0 percent: 1945-1947; 1956-1958; 1980-1982; and 2001-2003. America saw its longest stretch of years when real GDP grew by 3.0 percent or better in the seven years from 1983-89. President Ronald Reagan was inaugurated in January 1981 and left office in January 1989.
Obama has the worst record in American history
- it's time for a drastic change.