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The economy is in growth mode.
Eric Cantor "Who is gonna best be able to lead this economy back to a growth mode..."





We wondered about his choice of the word back to growth mode, suggesting that the economy is not growing.  One side says it needs to start growing again, the other side says it is growing again.  So which is it?   We thought this provided a good opportunity to take a step into the world of facts.  Everyone wants to know the facts when it comes to the economy, including us.

Read, Verify, Learn, Vote!



Bureau of Economic Analysis (BEA)

U.S. gross domestic product (GDP) stood at negative 6.7 percent in the first quarter of 2009 when President Obama took office.

It climbed to 3.9 percent in the first quarter of 2010, before it began to decline again, falling to as low as 0.4 percent in the first quarter of 2011.

However, it has increased each quarter since then and, in the fourth quarter of 2011 stood at 2.8.  Ref #1



The Congressional Budget Office (CBO)

"The U.S. economy has struggled to recover from the deep recession that, according to the National Bureau of Economic Research, began in December 2007 and ended in June 2009."

"Although total output started to expand again more than two years ago, the pace of the recovery in output and employment has been quite slow, and the economy remains in a severe slump."

"Real GDP in the third quarter of 2011 was about 5 percent below CBO's estimate of its potential."

"CBO expects that, under current law, economic growth will continue to be slow and real GDP will stay well below the economy's potential for several years."  Ref 2



Those are some of the facts, now it is up for you to decide and cast your vote.  We want to hear from you.

References

1. BEA Report

2. CBO Report, Page 5

Vote Now
Based on the BEA and CBO, do you think the economy is in growth mode, even if it is slow?

You Decide! Vote Now
Fact Fiction

When you vote in favor of ideology over facts, you just make your ideology look bad, but we sure won't stop you.


 

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Voting Key


Fact = 100% - 92% True
Mostly Fact = 91% - 75% True
Slightly Fact = 74% - 60% True
Split = 59% - 50% True
Slightly Fiction = 49% - 30% True
Mostly Fiction = 29% - 10% True
Fiction = 9% - 0% True