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.


Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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