Prosperity Is Hip, and Raises Living Standards

Peter Ferrara, Forbes
From 1947 to 2007, the U.S. economy averaged real growth of 3.2% a year. At that rate, our GDP would double every 22 years. It is that sustained, long term economic growth that made the United States into the world’s dominant superpower.Last year, U.S. real economic growth was a paltry 1.7%. The current quarter will probably not be much better. Historically, the deeper the recession, the stronger the recovery. That is because the U.S. economy has always rebounded back to the long term economic growth trend.

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