Scott Grannis at Calafia Beach Pundit is one of my favorite economics bloggers. He does not post often, but when he does he produces some real gems. His work includes illuminating graphs that supports his clear analysis.
An excerpt from This election should be about growth– I encourage you to read to whole post.
If Donald Trump wants to win the election, his campaign ought to promote the facts to be found in the chart above. The economy’s ability to grow by a little more than 3% per year on average for over four decades suddenly vanished beginning in 2009. For the first time in post-war history, the economy failed to recover to its former growth path following the 2008-09 recession, and it has managed to grow only 2.1% since then. Seven years of slow growth following a big recession have left the economy about $3 trillion smaller than it could have been. We’re missing out on approximately $3 trillion per year in income, and that’s yuuge. Put another way, the average family could have been earning about 18% more this year if the economy had recovered in typical fashion, and of course there would have been many more people working. The $3 trillion GDP shortfall is the easiest way to understand the widespread level of discontent in the U.S. today.