US Economy Grows at Fastest Pace in History
Want to know what the Democrats fear most? A recovery.
All of 2020 has been aimed at tanking the living conditions of the average American voter in order to shift the electorate toward the Democrats. These are not the numbers they want to hear or see.
Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together, the Commerce Department reported Thursday.
Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, according to the department’s initial estimate for the period.
The gain came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. The previous post-World War II record was the 16.7% burst in the first quarter of 1950.
The usual pattern is that the Obama economy underperformed expectations, while the Trump economy outperforms them. That says something about the leadership of both men and the structural biases of the expectations.