Economic growth in the first quarter was about 6%, about 3% in the second quarter for an average of 4.5% growth in the first part of this year, thanks in large part to the tax cuts and low interest rates.
When do we get out of the depression? When growth hits 50%?
We haven't even STARTED what will be a long, ugly, multi-year depression. The little hiccup after 9/11 doesn't count.
Mrs. Consumer is 2/3rds of economy and her credit cards are just about maxed out. Mr. Business is still running at less than 65% of capacity, so demand could increase nearly 50% before capital expenditures are a factor. (And don't get me started on the phony stats coming out of BLS! Go look at how the employment numbers get revised downward each month.)
Yup, no matter what the truth really is, it'll be the Great Bush Depression.
Then why are sales tax receipts down about 5% in just about every state in the Union?