The value of the Gross Domestic Product in United States is an important issue and, many economists are questioning its value. This question was addressed during the Senate extraordinary meeting on Wednesday.
In fact, the GDP figures announced recently suggests that each quarter's growth rate is just an prelude to future economic growth, or at the other hand, a recession may occur during the next few months.
Figures released showed that the annual production of goods and services in United States has grown to be approximately 14 Trillion US$, considering few figures that have the scale of GDP.
Economists did not consider GDP as one figure that may fit what is really reality. Some suggest an adjustment to get the most beneficial and accurate figures from it. They propose to use it more as a gauge of activity, instead of overall progress.
Some economists believe that there should be separate accounts for the market price and the quality of life. This is a controversial and subjective thought.
The value of GDP has its base in the marketplace economy and it is affected by things like the value of the Dollar, investment, consumers' expenses, and Government activity.

Some economists point to some of the many predictions that have been made by other analysts. These forecasts by economists and analysts focused on aggregate values, not on the individual experience. In fact, many of the useful activities that are not money-based transactions are not included in the calculations. In the monetary economy, these are not seen as of equal value.
Economists suggest improvement of many figures traced by the Government, not only GDP. Criticism arises regarding this point of view. Some of the economists declare that that criticism is unfair. They explain that if a 5,000 US$ computer offers a ten-fold improvement on a 500 US$ computer, consequently, the quality shows up when considering these purchases as the expenses of the customers. Much learning goes into making these computers.

The standard of living of a vast number of people takes in things like a home-cooked meal. Yet things like household work that has not or cannot be given a real value, are not included in the calculation of GDP, although goods and services tend to come from it.
However until someone come up with a viable alternative, the present way of calculating the GDP will continue. What we will have to do is to be cautious with our interpretation as to wheat GDP means for the economy.