U.S. economic growth accelerates in 2nd quarter

The Commerce Department says the nation's gross domestic product, or GDP, rose at an annual rate of 2.8% from April through June. That's more than the 1.9% rate economists had expected for the second quarter. Jeff Stein, White House economics reporter for The Washington Post, joins CBS News to explain what the GDP growth says about the economy, and how the Federal Reserve could read the data.

[MissJIF]

Our nation is doing well! But individuals are seeing increases in credit card interests and rents. We're getting gouged by Big Business

[topherdalrymple]

Tell it to working Americans. How about a raise.

[LOTUG]

This gotta be just for rich people. The average joe is dying from being broke

[cymckyc]

Grocery bills will never go back down as well as other merchandise. Big corporations are use to their high dollar they are getting. Greed over poverty for them

[tomdrummy]

Government over spending counts on GDP……….and consumers are spending more because everything cost more. You’re welcome 🙂

[WesternBachelor]

Ah yeah, when rents and groceries are up, and wages are down... Economic growth accelerates! Gotta love it. Let's go brandon!

[SpanishKnight]

Government spending up 4%, including defense spending up over 5%

[deadname...]

Inflation at 2.97%, is still outpacing economic growth.

[mfd]

The US grip on the world is loosening. Americans need to get their act together and work smarter and harder

[rickstevenson]

YouTube comments section always a battlefield 😂

[hugoosarion]

Maybe companies are doing OK but the recession is being felt by the average Joe

[eikoGoldstein]

If inflation is 2-3% and GDP increases 2.8%, then there is no real increase in GDP. What are fatuous report!

[MommeFive]

What I hear is that US business is supporting this positive GDP and geared toward growth. We cannot fear imposing sanctions when warranted because of the small possibility other countries or currencies may do business with us. We may loose coins but we strengthen our stance on human rights and our own domestic production.

[freshmclovin]

Everyone spending MORE of course it LOOks like things are going good while the actually PEOPLE are suffering amazing

[НикитаФадеев-фь]

There will be this awareness that we need to rethink how the money system works, we need to get out of a debt-based economy. We cannot allow a small power elite to create money and reap the profit from lending it with interest. This is something that the state needs to take on, and the state needs to be in control of the money system so that only the state benefits and thereby the people benefit. If the state makes money off of money, people do not have to pay so much taxes.
It needs to be seen that the only institution in society that has a right to make money off of money is the state. The state, of course, cannot go into the many forms of schemes that the capitalists have come up with in order to manipulate the economy because the state has no interest in manipulating the economy. It simply has an interest in creating a money system that allows for the greatest amount of creativity, movability of the money, the greatest ability to finance new businesses. This will promote a growth in the economy, and the more the economy grows, the more it is in the interest of all of the people and also, of course, in the interest of the state. These are very, very dramatic shifts compared to what you have today but they are not so unrealistic that they are so far off. It can come to that point where there is such an awareness of the existence of power elites that they will very quickly be put out of commission by the democratic nations. There will be either a raised awareness of how the power elites work and how anti-democratic it is, or there would be an awareness that if we do not reform the money system, then our economies, our debt-based economies, are going to collapse. The debt has reached such proportions that no country can pay it back and it is, in fact, in no way democratic, in no way in accordance with the democratic ideals, that the population of an entire country are enslaved financially so that for the next many decades a majority of their resources will go to pay back the interest to a small power elite. How is this democracy? How is this freedom? How is this allowable in a democratic nation, in a democratic world?

[cratecruncher]

Nice reporting from Mr. Stein. Abandoning the western financial system to be at the mercy of China and Russia sounds like a Faustian bargain.

[RiDankulous]

Time to lower interest rates, right right it’s funny. Every time an article is shown or a video regarding the economy. Is this the time that they’ll start lowering interest rates?

Don’t matter what matters is affordability of housing for Americans. That’s not getting fixed. For the record on pro Harris for very important reasons obviously

[huynguyentoantin]

At the same time deficits are going sky high. So?

[shwnshts]

Plot Twist: ONLY THING WE PRODUCE IS DEBT

[jaquin]

Hopefully trump gives us 1200 dollars for free again