Economy Shrinks in Q1; Annual Growth Still Stuck in the Doldrums

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Today brings disappointing economic news. The economy didn’t just grow slowly in the first quarter, it actually shrunk by 0.7 percent. As usual, winter weather is getting part of the blame, and some economists are going even further, wondering if we need to step back and take a look at the formula for seasonal adjustments. Perhaps, for some reason, the formula is no longer reflecting reality during the winter quarter.

Maybe. But what this shows is that although the US economy continues to putter along in decent shape, it still hasn’t reached takeoff velocity. The economy has been growing at a rate of 2-3 percent per year for the past five years, and there’s little evidence this is going to change anytime soon.

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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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