Here's another chart. This time we have real gross domestic product minus real government consumption expenditures and gross investment. In other words, the part of GDP that NIPA attributes to the private sector.
What you see here is a pretty fair representation of the truth. To say it's "doing fine" is overly optimistic. The private sector took a huge blow and it hasn't recovered from that blow. But the private sector has pretty steadily grown in the Obama years, while government purchases and public investment have stagnated or fallen.
TODAY IN SLATE
Forget Oculus Rift
This $25 cardboard box turns your phone into an incredibly fun virtual reality experience.
The Congressional Republican Digging Through Scientists’ Grant Proposals
Renée Zellweger’s New Face Is Too Real
Sleater-Kinney Was Once America’s Best Rock Band
Can it be again?
Whole Foods Is Desperate for Customers to Feel Warm and Fuzzy Again
I’m 25. I Have $250.03.
My doctors want me to freeze my eggs.
Smash and Grab
Will competitive Senate contests in Kansas and South Dakota lead to more late-breaking races in future elections?