The US Economic Borrow-and-Spend Bubble Reflates
Alan Tonelson
Monday, July 12, 2010
Growth of U.S. real GDP, 4Q 2009-1Q 2010: 0.68%
Growth of U.S. real trade deficit, 4Q 2009-1Q 2010: 7.18%
Source: Calculated from “Table 1.1.6: Real Gross Domestic Product, Chained Dollars,” Seasonally Adjusted, National Economic Accounts, Bureau of Economic Analysis U.S. Department of Commerce,” http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=6&FirstYear=2009&LastYear=2010&Freq=Qtr
Alan Tonelson is a Research Fellow at the U.S. Business & Industry Educational Foundation and the author of The Race to the Bottom: Why a Worldwide Worker Surplus and Uncontrolled Free Trade are Sinking American Living Standards (Westview Press).