US economy running strong

With a series of laws passed, many in a bipartisan manner, and actions by the federal government to help start controlling inflation, our country in moving in the right direction.

(11) comments

RetAirForceBigBlue

Traveling across the country I just paid $3.07 for gas. Show Low always seems to have one of the highest gas prices in the state.

guest443

Ok were? Here are the gas prices across the USA.

https://www.gasbuddy.com/gaspricemap?lat=32.66619185566748&lng=-99.46468953751284&z=6

phxnative54

Thank you, Dr. Jarrin, for helping keep the "conservatives" informed on what's REALLY going on in our country. They certainly aren't hearing it from the "entertainers" on their "infotainment" sources.

longtimeresident

When the corporation who owned all of the local Speedway Stores bought up all of the local Circle K's our prices have stayed high since there is no competition anymore. No politics, just free enterprise at work.

Joe101

So, are you suggesting government gasoline stores? Our gasoline prices are still low compared to Europe... could be lower if Trump was President, but, he's not a smooth teleprompter reader....

Tim

Our economy is in trouble. We are in a recession. 2 consecutive quarters of declining GDP. 8.5% inflation, interest rates rising, housing market collapsing, national debt increasing. Unemployment rate is a false flag. You have to look at FRED which is the total labor participation rate. We are millions of people below 3 years ago. Millions of people have dropped off the unemployment roles, leading to low unemployment rate. That is why FRED is a much better statistic to measure the strength of the labor market.

Kahuna

Trump crashed the FRED down to 60.2 with his bumbling of the pandemic. It's at 62.4 and continuing to climb. It doesn't turn on a dime. BTW, your buddy trump increased the national debt 8 trillion dollars and unless you're part of the 1%, "we the people" got squat.

MtnDame

8 trillion is nothing compared to what the Biden Regime has sent to Ukirane, and signed into law over the last 90 days, wake up, Biden is crashing the economy intentionally. Paying off student loans, really? People need to pay their own dang bills or the colleges need to forgive the debt. Thank you Obama for the student loan debacle.

Joe101

Your kidding, right!

So the Federal Reserve Bank is raising interest rates to help pay retired folks higher CD rates. Stocks are 👇 and electricity kw rates have doubled...But the economy is just awesome... maybe for a doctor...but not for many of your patients.

MtnDame

20 million US households cannot afford to pay their utility bills, millions fear losing their housing via foreclosure or eviction, small businesses cannot pay their rent, housing prices have already slumped up to 25% in the past 90 days, and the economy is OK? Surely you jest. Turn off the main stream media and start researching what is really happening in the economy. Not only in the US but in Europe. If one truly believes the country is is great shape you are in a for a rude awakening in the coming months. Wait until it's announced the dollar has lost its standing as the international monetary exchange status, it's already starting as foreign countries are not using the "petro dollar" in international dealings. Wake up before it is too late.

ronzim

It is far too easy to succumb to the temptation to speak out on a highly complex issue such as the U.S. economy while citing almost no meaningful data about the matter at hand. So.

1.Real gross domestic product (GDP) decreased at an annual rate of 0.6 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. This is good news even though the decreases adversely impact many elements because it demonstrates the effectiveness of the federal fight against inflation. Inflation cannot be reduced with shrinking the real GDP.

2. Personal income increased $47.0 billion, or 0.2 percent at a monthly rate, while consumer spending increased $23.7 billion, or 0.1 percent, in July. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 5.0 percent in July, the same rate as in June. Not so good. Consumer spending is a major factor in inflation.

3. The U.S. current-account deficit (essentially the trade imbalance) widened by $66.6 billion, or 29.6 percent, to $291.4 billion in the first quarter of 2022. The first-quarter deficit was 4.8 percent of current-dollar gross domestic product, up from 3.7 percent in the fourth quarter. We are failing to match our exports to our imports, or better.

4. The U.S. net international investment position (IIP), the difference between U.S. residents’ foreign financial assets and liabilities, was -$17.75 trillion at the end of the first quarter of 2022. Assets totaled $34.00 trillion, and liabilities were $51.75 trillion. At the end of the fourth quarter of 2021, the net investment position was -$18.12 trillion. Improvement.

5. The U.S. monthly international trade deficit decreased in July 2022. The deficit decreased from $80.9 billion in June (revised) to $70.6 billion in July, as exports increased, and imports decreased. The previously published June deficit was $79.6 billion. The goods deficit decreased $8.2 billion in July to $91.1 billion. The services surplus increased $2.1 billion in July to $20.4 billion. More improvement.

6. Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $333.6 billion (preliminary) in 2021. Also good news.

7. State personal income increased 4.8 percent at an annual rate in the first quarter of 2022 after increasing 3.6 percent in the fourth quarter of 2021, with the lowest gains in the South and interior west, while consumption was highest in those same areas, in part because these areas receive much larger inputs of federal funds then they send back to Washington. This also reflect the higher poverty rates in the red states.

This just scratches the surface of the many things which bear on the state of the U.S. economy. It is invalid to make any claim of low performance without considering these and many more factors. The FED has massive data resources and activity information on which to craft policy, we do not.

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.