Economic Growth in the First Quarter Sucked

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GDP growth was terrible in the first quarter, rising at an annual rate of only 0.7 percent. That’s the worst quarterly performance in two years:

Unfortunately, the details behind the headline number are bad too. Growth was driven almost entirely by investment in buildings, both residential and nonresidential. Personal consumption was up an anemic 0.3 percent. The most common excuse for this miserable performance is that it’s for the first quarter, and first quarters are always bad. There’s some truth to this: first quarter growth has averaged 1.0 percent since 2010. However, we’ve had a pretty mild winter in 2017, so there’s no weather excuse this year.

We’ll see. Maybe the revised numbers will be better. Maybe we’ll make up for this in the second quarter. Maybe.

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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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