by Ryan McMaken, Mises Institute:

Weakness in the US economy continues to hide behind surging debt levels and government spending. As noted last month by Daniel LaCalle,

[A] large part of the growth in GDP came from bloated government spending financed with more debt and inventory revaluation, adding 0.8 and 1.4 percentage points to GDP growth. …

The increase in gross domestic product between the third quarter of 2022 and the same period of 2023 was a mere $414.3 billion, according to the Bureau of Economic Analysis, while the increase in public debt was $1.3 trillion ($32.3 to $33.6 trillion, according to the Treasury).

The United States is now in the worst year of growth, excluding public debt accumulation since the thirties.