Chart of the Day: The Economy Continues to Plod Along

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GDP was up in the second quarter, but our economy is still not exactly a house afire. Preliminary results indicate an increase of 2.3 percent:

The BEA explains where last quarter’s growth came from:

The acceleration in real GDP growth in the second quarter reflected an upturn in exports, an acceleration in PCE, a deceleration in imports, and an upturn in state and local government spending that were partly offset by downturns in private inventory investment, in nonresidential fixed investment, and in federal government spending and a deceleration in residential fixed investment….Real personal consumption expenditures increased 2.9 percent in the second quarter, compared with an increase of 1.8 percent in the first.

Really, the chart tells the whole story. As you can see, 2.3 percent growth is about….average since the recession ended. Not great, not horrible. Every time we manage to get into third gear for a little while, we hit a bump and end up back in second. It’s now been eight years since the economy imploded, and we’re still just muddling along. It’s not clear what it will take to improve things.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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