GDP Is A Bad Way To Measure The Economy’s Health. Here’s A Better Way.

People supporting Joe Biden were excited that the GDP for the second quarter came in higher than expected, at 2.4%. But here’s the problem: GDP is a bad stat.

The reason it’s a bad stat is that it measures the amount of user consumption. You pay a price at the store to buy a product; that goes into GDP. The government spends a truckload of money; that goes into GDP.