Thursday, November 29, 2007

Only 2.4% Growth!

I love reading Back Talk every day and so should you. I never have much to add to his brilliant analysis but I thought I'd throw a cookie out relating to this:
GDP growth was good, but the painful credit crunch is going to restrict growth in the next quarter to 2.4%. Fine.

I wanted to put that 2.4% GDP growth into perspective. Using that percentage as an annual increase and using the 2007 Estimate for real U.S. GDP, I get a total increase of $316,717,107,000.00 for the year. Were that growth a nation's total GDP, it would rank near the top 25 in the world crushing countries like Venezuela, Portugal, and Denmark.

Just wanted to put the staggering enormity of our economy in some type of perspective.

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