Contrary to what is coming out of the mouths of Democrat(ic) candidates and President Clinton, the truth is that the U.S. economy continues to grow. Again, there is no recession. Well, except in the brain matter of Democrats in Washington for what they would have you believe.
GDP, the broadest measure of the nation’s economic activity, stood at an annual rate of 3.3% in the quarter, adjusted for inflation, the Commerce Department said. Economic growth between 2.5% and 3.5% is typically viewed as the norm for a healthy economy.
After hearing President Clinton, and VP candidate Joseph Biden last night, talk of a failing economy, that only they can fix, let’s see how the Messiah himself calls it tonight. The sorry thing about these politicians is that no matter what the fact show, they continue to try to pull one over on you. This used to be called lying to you. Whatever.
The stimulus worked. Moreover, to keep it working, make ‘those Bush tax cuts’ permanent.
Personal spending helped add 1.2% to the second-quarter preliminary GDP reading released Thursday, up from the advanced reading of 1% for the quarter and just 0.6% in the first quarter.
Exports rose, much to the horrors to those that worry over the so-called ‘trade deficit.’
Much improved demand for U.S. exports added 3.1% to GDP, compared to just 0.8% in the advanced reading.
Wages rose.
Individuals pay excluding volatile food and energy prices – rose 2.1%
And according to Wachovia senior economist Mark Vitner . . .
Inflation is still just barely above the perceived comfort zone of central bankers. The Federal Reserve is generally believed to want to see the 12-month change in core inflation readings remain between 1% and 2%. “Without a price spiral, the Fed won’t have to squeeze the life out the economy, which should help sustain modest economic growth,” Vitner said.
Month after month, quarter after quarter, there is not and has not been anything approaching a recession. So time has come to blame George Bush for our continued growth.
