I sure do miss the days of 4% real GDP growth. Remember, that’s the growth rate assumed by the Administration years ago that would prevail today. Kudos to readers who can dig up some of those old growth projections in a chart that was floating around. I went to the White House site and instead only see future budget projections (double kudos if you can share with us what the projections for growth in the future will be). OK, I’ll give away the last question: the current budget is projecting 3.9% growth per year from 2014-2017.
Instead, we’re below 2% now and are told that the Fed needs to do some pretty heroic things to helps us avoid future calamity.
Now back to our regularly scheduled program.