Brooks Claimed The Economy Was Better In 2011 Than It Is Now

NYT's Brooks: "The Economy In 2012 Is Worse Than The Economy In 2011." In a October 1 New York Times op-ed, columnist David Brooks advised Republican presidential candidate Mitt Romney to say that the economy is worse now than it was in 2011. From the op-ed:

The Obama administration, which is either hostile to or aloof from business, has made a thousand tax, regulatory and spending decisions that are biased away from growth and biased toward other priorities. American competitiveness has fallen in each of the past four years, according to the World Economic Forum. Medical device makers, for example, are being chased overseas. The economy in 2012 is worse than the economy in 2011. That's inexcusable. [New York Times,10/1/12]

In Fact, Economic Data Indicates That The Economy Is Better Off Now Than It Was One Year Ago

St. Louis Federal Reserve Bank: Since 2011, GDP Has Grown To $15.586 Trillion. According to the St. Louis Federal Reserve's Bureau of Labor Statistics data, gross domestic product -- the broadest measure of the economy -- has grown every quarter since the beginning of 2011. GDP grew by over $500 billion between the second quarter of 2011 and the second quarter of 2012:

[St. Louis Fed, accessed 10/2/12]

St. Louis Federal Reserve Bank: Since 2011, The Private Sector Has Added Over 3 Million Jobs. St. Louis Fed data indicates that since the beginning of 2011, the private sector has added 3.193 million new private sector jobs. Since last October, the private sector has grown by over 1.619 million jobs:

[St. Louis Fed, accessed 10/2/12]

CNN Money: The Stock Market Has Increased In Value By Nearly 24 Percent. According to CNN Money, the Dow Jones Industrial Average has increased in value by 16.46 percent since the beginning of 2011 and by 23.84 percent since October 2011:

[CNN Money, accessed 10/2/12]

WSJ: "The Value Of Americans' Real-Estate Holdings Jumped About $400 billion, Or 2.1 percent, To $19.1 Trillion" A September 20 Wall Street Journal article reported that in the second quarter of 2012, home values hit their highest value since 2008. From the article: