Bad News, Good News

Felix Salmon on the GDP numbers:

If you're one of those people who needs a negative GDP number to convince yourself that we're in a recession, here you go. But the headline -0.3% figure isn't the worst bit: that would be the 8.7% fall in disposable personal income. If there was any doubt about the outcome of this election, that number alone should put it to rest: there's no way that the incumbent party can win in that kind of economic environment.