Why Americans Do Not See a Strong Economy

Published on February 1, 2024

Commentary The euphoria over fourth-quarter U.S. gross domestic product (GDP) figure makes no sense. The headline champions say that real GDP increased at an annual rate of 3.3 percent in the fourth quarter of 2023, according to the Bureau of Economic Statistics (BES). An increase in real GDP of $1.5 trillion with an increase in public debt of more than $2 trillion is not a strong economy. It is a bloated economy. Furthermore, there is nothing positive in consumption when personal saving as a percentage of disposable personal income was only 3.7 percent in December and disposable personal income in 2017 has basically stagnated. American consumers are buying fewer things with their salary....

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