Economic growth

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Economic growth is an increase in a nation's capacity to produce goods and services over time. It is usually calculated using a country's gross domestic product (GDP) as compared to the country's population.[1][2]

Ideally, GDP annual growth should be 4% or more, as it was in the early 1950s and late 1980s, when the Nation benefited from Reaganomics. However, during the Obama Administration GDP grew at an anemic 2% annually, roughly.

References

  1. Bjork, Gordon J. (1999). The Way It Worked and Why It Won’t: Structural Change and the Slowdown of U.S. Economic Growth. Westport, CT; London: Praeger. pp. 2, 67. ISBN 0-275-96532-5
  2. http://usinfo.state.gov/products/pubs/oecon/chap12.htm