Is the U.S. economy any better?

[Que]

Is the economy better than it was in 2007? Why or why not? Yes, the deficit has increased, but if you ask the average person and from your personal experience, do you believe things are better, worse or about the same? Discuss!

 

[Stschil]

What is an average person? Humans are adaptable and have a tendency to isolate ourselves and compartmentalize to insolate ourselves. This makes your question difficult to answer. Media being no longer objective, try's very hard to promote its political and world view. Guilt in this arena lies with both the Main Stream Progressives and the Conservative Alternative outlets with the truth falling somewhere in the middle.
For myself, I am better off than I was in 2007, but this isn't due to a roaring or even stable economy, it is because I made choices and took actions to make things better despite the recession. I wasn't happy with the thought of resigning myself to the false stability and safety of living off the table scraps offered by our Gubmint.
Unfotunately, more and more people seem to have given in as evidenced by the sharp increase in Food Stamp and other Social Safety Net participants. This is where adaptability is somewhat of a curse, People are too easily controlled by playing on and promoting this selfish nature. By pitting the Haves against the Have Nots instead of our Exceptionalism, the progressives have incrementally brought us to a the new normal.
Can we, as a whole, recover from this malaise? I don't know. History seems to show that we can. Unfortunately, this more times than not, involves some sort of collapse

 

[dirtfarmerz]

I still see places going out of business. There are a lot of people without work. The NWO can't let the U.S. have too much growth because that would spoil their plans. The fact that we are doing as well as we are is a testament to how great a country we have. They are having a hard time knocking it down. They want to create a population so desperate that they'll accept their "hope and change". I saw the term "hope and chains" somewhere and it is more fitting for what they have planned.

 

[Mad Macs]

It really depends on where you look. Our customer base has exploded in the last year, and I see companies spending more money than they have in previous years on marketing and advertising which is a good sign. I think the economy "in our demographic" is improving immensely.

We're seeing a modernization in our economy that has rendered a lot of jobs obsolete, so that's part of the reason you see a potential rise in unemployment.

 

[netsecurity]

Detroit is worse. Chicago is worse. New York is worse.

All Democrat ruled areas are going bankrupt. What could this possibly mean?

 

[Hotdoger]

Better for me since pre Obama. I changed my life and the focus of my businesses when I saw he was going to be elected.

 

[wsenefeld]

I look at how in early 2007, gas was around $2.30 per gal for 87 oct or $2.40 for diesel. As the price of gas goes up, so does the delivery fee. Gas has been inflating disproportionately to inflation and minimum wage.

My dad gave me an example. Back in 1972 he had a part time job at KFC. He bought a brand new Chevy Nova and had it paid off within a year. Can't do that today. Inflation has kept going but minimum wage hasn't kept up.

 

[GodFearinGunTotin]

I think it's better than it was in 2007. I'm basing this from a personal point of view. In 2007, I wasn't sure if I'd still have a job in 2008. Now, our place has expanded and is working OT to get products launched and keep up with orders. But to temper that good news a bit...even though we've expanded, we're still no where near as capacitized as we were in the late 90's. We still have a large part of the facility that is idled. And there, I believe we see a microcosm of the economy as a whole...while things may be better than they were, the "return to glory" hasn't happened and it's not all that clear that it ever will.

 

[SEIndSAM]

I work for a manufacturing company that produces both consumer goods goods and OEM goods. Whiles sales rebounded in 09,10,11 and 2012, sales have fallen this year. Both categories are down, but the OEM side has fallen the most. That tells me the companies we sell to are not selling as much this year as in the past.
I think we are seeing another recession coming this winter.

 

[2ADMNLOVER]

Well , the local housing market looks better because of foreign investors buying thousands of homes but I'm not sure that's necessarily a good thing . The pay and work for "skilled tradesmen " are both way down for any job that doesn't require state licensing , ie, plumber ,hvac . I think there's a **** sandwich coming ala Argentina style and we're all gonna take a bite .

 

[Rob377]

Is this really a question?

Labor Force Participation Rate

Number of people on Food Stamps

Unemployment

Record number of "Disability" claims
Record number of Americans on disability would make up 8th most populous state - Washington Times

 

[BehindBlueI's]

Less and less participation in the economy.

Growing inequity in wealth accumulation (the rich are getting richer at a faster pace than before, with the poor getting poorer at an also accelerating rate).

The biggest employers in the US relying on part-time employees whenever possible

Fewer Americans with the advantages of health insurance, job security, and a pension

Emerging markets slowing down

Banks learning that they are "too big to fail" and are also too big to punish engaging in the same shenanigans that pushed our economy into the crapper to begin with, including commodity manipulation.

So..it all depends. If you are in the 55% or so of folks making $35k per household or less, you are likely to be worse off. If you are in the 35% called the middle class, $36k to $75k per household, you're probably about even, unless the bottom fell out of your house. If you're in the top 10% making $75k or more per year, the economy probably looks just fine. (Percentages are approximate, and may flex 1-3% on the $35k over/under depending on who's stats you use).

 

[Jerchap2]

While individual experiences vary, the stats Rob377 posted tell the story from a macro point of view, and it isn't pretty. The cost of fuel and virtually everything has gone up with wages not keeping pace. One interesting microcosm, though -- I travel to Washington, DC with some frequency, and it is like a boom town with all the government employees and money in play there. Lots of construction, previously poor neglected areas being razed and replaced by steel and glass monuments to the house of cards that is funding it.

 

[jbombelli]

I'm in commission sales, and I made a little over $90K in 2007. In 2012 I made just under $50K, and I'm on target for about $45K this year. This is a direct result of people having less money to spend.


So no. The economy isn't doing better. It's doing worse.

 

[MCgrease08]

I personally have seen a lot of growth in my business and more companies are looking for services I provide. I attribute that mostly to me busting my butt to get better at what I do and finding clients that appreciate my services.

I quit a steady gig in 2010 because wages were stagnant and the brass wanted me to constantly do more with less. I decided that if I wanted a better job, or more pay for my work I had to create my own position, so I did. It took a few years, but the hard work is paying off.

I think there is more economic opportunity out there than there was 5-6 years ago, but that doesn't necessarily mean the overall economy is better for the masses.

 

[MisterChester]

I'm in commission sales, and I made a little over $90K in 2007. In 2012 I made just under $50K, and I'm on target for about $45K this year. This is a direct result of people having less money to spend.


So no. The economy isn't doing better. It's doing worse.

!

This is the biggest problem with the economy today. Little to no expendable income.

 

[Jerchap2]

An older photo, but the sentiment rings truer every year since 2007.

 

[RobbyMaQ]

I'm not an economist or expert.
We had always budgeted for things, so when the economy hit hard in 2007-2008 and everyone was panicking, we weren't really affected.

However, with no real increase in income since then, I've noticed our costs rising substantially, to the point that we have just now started to make cutbacks in our family budget. Despite all the trucks I see on the road (compared to 4-5 years ago), the economy doesn't seem to be helping us much.

 

[MisterChester]

I'm not an economist or expert.
We had always budgeted for things, so when the economy hit hard in 2007-2008 and everyone was panicking, we weren't really affected.

However, with no real increase in income since then, I've noticed our costs rising substantially, to the point that we have just now started to make cutbacks in our family budget. Despite all the trucks I see on the road (compared to 4-5 years ago), the economy doesn't seem to be helping us much.

Income is supposed to grow with general economic growth, that is a principle almost any economist will agree with. If income is stagnant, then it's either because the economy is also stagnant or someone's hand is in the cookie jar.

 

[sun]

The inflation-adjusted U.S. GDP & economy is larger now than in 2007

While there may be less jobs, the economy has grown larger than it was in 2007 in inflation-adjusted dollars.

Inflation adjusted gross domestic product of the U.S. (Chart & Graph)

US gross domestic product in trillions of chained 2005 dollars (inflation-adjusted).

Source: US Bureau of Economic Analysis


Date US Real GDP
Mar 31, 2013 13.75 trillion
Dec 31, 2012 13.67 trillion
Dec 31, 2011 13.44 trillion
Dec 31, 2010 13.18 trillion
Dec 31, 2009 12.87 trillion
Dec 31, 2008 12.88 trillion
Dec 31, 2007 13.33 trillion
Dec 31, 2006 13.04 trillion


US Real GDP by Year

Same info. shown as a [faint] white line graph: US Real GDP