How did the US economy perform in 2018?

in #steemhunt6 years ago

gdp.png⠀⠀⠀⠀⠀⠀⠀⠀⠀

A GDP growth 📶 of 2.9% might sound like a solid economic performance, but let’s take a deeper look 👀 at the numbers.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
GDP (Gross Domestic Product) is the sum of all goods 🍱 and services 🚚 produced by a country in a given amount of time.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
GDP is considered by most economists to be one of the most #important indicators 🚨 of an economies health 🏥.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
GDP = Total consumer spending ✈️ + Total Government Spending 🏛 + Total investment 💸+ Net trade (exports -imports) 🔀.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Government Spending 🏛 is not bound by tax revenue, but also includes the deficit spending that it borrows, increasing the National debt 🎈.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
In #2018, total #US 🇺🇸 GDP grew by $1.02T while the total deficit was $1.2T !
⠀⠀⠀⠀⠀⠀⠀⠀⠀
That means that if the government did not run a large deficit ⚠️ , the #economy would already be in recession.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Does this seem like a sustainable ♻️ track for real economic “growth?”

Sort:  

Congratulations @hunter5! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.23
TRX 0.21
JST 0.035
BTC 96557.13
ETH 3328.16
USDT 1.00
SBD 3.18