The Modern Liberal Limited Government

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2015 was 0.1% on April 2, up from 0.0% on April 1. Following this morning’s international trade release from the US Census Bureau, the nowcast for the change in real net exports in 2009 dollars increased from -40 billion to -33 billion. The nowcast for real equipment investment growth declined from 7.5% to 6.1% following the international trade report and the Census Bureau’s M3 manufacturing report.

That’s the Atlanta Fed’s prediction of our GDP performance in the just concluded first quarter of 2015. The official number will be out at the end of this month. The real equipment investment growth shrinkage is interesting, too: that’s future production capacity for our businesses, and they’re not optimistic.

As Power Line put it,

[L]iberal policies—extravagant government spending, steadily mounting debt, endless regulations, cronyism and the suppression of innovation, promotion of expensive energy, war on cheap electricity, and all the rest—have condemned a generation of Americans to limited opportunities for employment, promotion and the acquisition of wealth.

That’s limited government, modern Liberal style: government limits on individual opportunity.

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