Tuesday, January 04, 2005

Economics lessons from individ

individ: Man, this must be the best bad economy in history. Nay saying at the Washington Post not withstanding, the economy is humming along.
In the six quarters after Bush’s tax cuts, real GDP expanded at a 4.6 percent annual rate, much faster than the 2.5 percent pace of the six earlier recovery quarters. Consumer spending jumped from 2.8 percent to 3.9 percent. Business investment in new plant and equipment surged to 13.4 percent from only 1 percent before the tax cuts. Personal income jumped to a 5 percent growth rate, nearly double the earlier speed of 2.6 percent.
Sounds like good economic times. (Of course if Kerry had been elected, the WaPo, NYT, et al would be heralding the Kerry Economy in the early spring.)

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