If we measured inflation and GDP the same way they did in 1979

[ThoughtCriminal]

How deep would the "recession" be now and how many quarters ago did it start?

What if fuel and food were included in the inflation calculation?

Has anyone made these calculations?

Another question - if food and fuel are excluded from the inflation rate calculation, are they also excluding them from the GDP?

[Demeter]

1. You REALLY Don't Want to Know

Because if it were calculated fairly, the US has been in decline since 1973 and the first oil crisis. And any progress made by Carter and Clinton to address the issue was swiftly undone by Reagan and Bush, and made so much worse.....

[rurallib]

2. While you are at it see if you can find out what the real unemployment

number is. I may be wrong, but I can't believe it is 5%.

[Gman]

3. I have been looking for weeks now for this information

and can't find something even to estimate it.

No, food and fuel are not excluded from the GDP.

[ThoughtCriminal]

4. I did find this

http://www.shadowstats.com/article/57

But the article is from 2004 and does not really quantify how much GDP is inflated in terms of 1979 metrics.

edit:
Chart on this page suggests actual GDP growth has been negative since 2004 and that there has been only ONE quarter since 2000 with positive GDP growth:

http://www.shadowstats.com/alternate_data

Another chart shows the unemployment rate is now actually 14% and consumer inflation at a 12% rate.

[DCKit]

5. I believe the (wo)man on the street - now homeless - would agree...

with those numbers. As would most anyone who pays their own bills and, especially, those with children.