The End of Socialism?

[David Horn]

(09-25-2017, 05:10 PM)Warren Dew Wrote:

(09-25-2017, 01:46 PM)pbrower2a Wrote: OK, so what would a 'real' recovery be like? Would it be one that begins after American standards of living fell to those of the early 1930s? After people started to starve?

Never let the perfect be the enemy of the good.

A real recovery would be one that recovered the economic losses, returning to the previous trend line, instead of just picking up a new, lower trend line starting at the bottom of the recession.  You know, like the 8% postrecession/tax cut real growth in 1983, or the 6% postrecession growth in 1961, or the 8% post tax cut growth in 1965.

Your analysis is simplistic at best.  But just to settle the growth argument, here is the rate of real growth from 1961 to present:



BTW, the big bump in 1983 is more likely the result of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), the largest tax increase in US history.