Skip to comments.Another Good Year on Deck
Posted on 12/11/2005 2:27:52 AM PST by MNJohnnie
The economic indicators are painting a very bullish picture of the U.S. economy. In fact, the ongoing flow of good-news data has led President Bush to proclaim that the U.S. economy continues to gain strength and momentum, thanks to good old-fashioned American hard work and productivity innovation, and sound economic policies of cutting taxes and restraining spending. Fifty percent sound economic policy (in particular lower tax rates) is better than nothing.
The U.S. economy grew faster during the third quarter of 2005 than initially thought. The seasonally adjusted annual growth rate of 4.3 percent was much stronger than the 3.8 percent estimated a month ago, and it marks the tenth consecutive quarter in which real GDP has grown faster than its 20-year average of 3.2 percent. At the same time, inflation gauges were revised slightly lower. The personal consumption expenditure (PCE) price gauge, the inflation yardstick favored by the Federal Reserve, rose only 1.2 percent, a figure lower than previous estimates.
Meanwhile, companies in the S&P 500 have reported double-digit increases in corporate profits for a record twelve consecutive quarters. As for the dollar, it has gained 31 percent against the euro and 17 percent against the yen.
(Excerpt) Read more at nationalreview.com ...
And what was that "miraculous" "incredible" "amazing" powerhouse economy like under Clinton...?
Roughly the same Unemployment numbers for the last 3 years of Clinton's term, lower average and over all GDP growth for Clinton. This economy has posted the best substained GDP Growth averages since the 1970s so the "Bush Economy" beats the "Clinton Economy".
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