Chart of the Day: The US Economy Has Finally Caught Up

I’ll be damned. Wonkblog’s Andrew Van Dam points out today that GDP has finally closed the huge gap with potential GDP that opened up after the Great Recession. He’s right:

I’m not sure I ever believed this would happen, even though CBO predicted exactly this a couple of years ago.

Unfortunately, there’s some bad news embedded here: one or two quarters of GDP above potential is an almost infallible predictor of a recession. All we need now is a housing bubble, a stock bubble, and a spike in oil prices and we’ll have everything in place to kick off 2018.

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This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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