The U. S. economic picture

The Washington Times ^ | July 31, 2005 | unknown

[katiedidit1]

The U.S. economic picture TODAY'S EDITORIAL Confirming the continuation of the solid, steady expansion that finally became firmly entrenched during the second quarter of 2003, the U.S. economy grew at an impressive 3.4 percent annual rate last quarter. It was the ninth consecutive quarter during which the economy has expanded by an annual rate of at least 3.3 percent. During the two previous years beginning in July 2003, the U.S. economy has grown by an average of 4.1 percent per year....    

[gdzla]

It's all Bush's fault.

[gdzla]

It's all Bush's fault.

[hsalaw]

This explains why we haven't heard a lot of whining recently about the economy - women and children hardest hit.

[Dr.Hilarious]

If this were Clinton we'd have hundreds of "soft" feature-like articles with such titles as "How Clinton Did It" and "A New Boom?" and "With An Economy Like This, Is There Any Hope For The Other Party To Get Back In Office?"

[the invisib1e hand]

If this were Clinton we'd have hundreds of "soft" feature-like articles with such titles as "How Clinton Did It" and "A New Boom?" and "With An Economy Like This, Is There Any Hope For The Other Party To Get Back In Office?"

leftists are crying all the way from their 4 million dollar brownstones to the local Chase branch.

When inflation hits, that will be all Bush's fault.

[Dr.Hilarious]

I'm just curious as to why the Dems were whining that Bush was talking down the economy when he first came into office, which was when the economy WAS on shaky ground for a few months, and now their whining that he was a "What, me worry?" President have abated.

[driftless]

Libs are absolutely sure that "tax cuts don't work". There has never been one mention by Big Media of JFK's tax cuts in 1962 that revived the economy or Reagan's in the early 80's. It's a liberal tenet that taxes must be increased to stimulate the economy. Why they believe this after that stupid leftest theory being disproved many times never fails to amaze me. A liberal is a person who (1) doesn't understand how a free-market economy works (2) won't admit it when they are wrong and (3) is unable to learn from his mistakes.

[adorno]

Libs are absolutely sure that "tax cuts don't work". There has never been one mention by Big Media of JFK's tax cuts in 1962 that revived the economy or Reagan's in the early 80's. It's a liberal tenet that taxes must be increased to stimulate the economy. Why they believe this after that stupid leftest theory being disproved many times never fails to amaze me. A liberal is a person who (1) doesn't understand how a free-market economy works (2) won't admit it when they are wrong and (3) is unable to learn from his mistakes.

What we who understand how tax cuts help to stimulate the economy fail to realize is that the great majority of people don't understand economics, especially supply-side and economic stimili. What the great majority of people understand is 'tax cuts for the rich, and the poor keep getting poorer' lies. That's how the democrats keep getting the economically disadvantaged and ignorant voters.

If the majority of voters were to be economically educated, the democrats would lose all elections.

[Mini-14]

It's all Bush's fault.

How so?

[Dr.Hilarious]

A liberal is a person who (1) doesn't understand how a free-market economy works (2) won't admit it when they are wrong and (3) is unable to learn from his mistakes.

It's because they are so emotionally attached to the exciting liberalism of their youth that to deny that they were simply wrong about that would be so ego-crushing that they simply can't allow themselves to do it. Imagine someone converting to a religion they thought completely changed their life, and they in turn promoted that religion incessantly, recruiting thousands to it, and then finding it's all a sham, what they thought were miracles were tricks, etc. An intelligent person changes his or her mind when they've seen this evidence of a sham; one attached emotionally, at the ego level, will become even MORE adamant, ignoring these newly-revealed facts, so they can deny they were wrong, and claim it's a smear.

That's the dems.

[Southack]

Steady 3.4% GDP growth after inflation (5.5% raw GDP growth). Unemployment down to 5%. Salaries increasing faster than inflation. Low inflation. Low interest rates. Record home sales. Record home ownership. Import deficit finally closing. Yuan to Dollar peg finally broken.

Life is good. No doubt some pessimists will never get it.

[katiedidit1]

It's never enough ...is it? life in the USA is very sweet...can we get the word out?

[Toddsterpatriot]

Pat Buchanan is deeply saddened.

[Dog Gone]

But CAFTA will send us into a depression. We're doomed.

[Jorge]

"It's all Bush's fault."

How so?

Take a guess.

It's Bush's freakin tax cut that lead to this economic expansion.

[mountn man]

Does anybody have the growth rates during the Klinton years?

I'm interested in the US economic growth rates. Not the growth rate or or growth frequency of Big Willy's little Willy.

[Southack]

Gross Domestic Product
Percent change from preceding period
(Seasonally adjusted annual rates)
Annual
	GDP percent change based on current dollars	GDP percent change based on chained 2000 dollars
1930	-12.0	-8.6
1931	-16.1	-6.4
1932	-23.2	-13.0
1933	-4.0	-1.3
1934	17.0	10.8
1935	11.1	8.9
1936	14.3	13.0
1937	9.7	5.1
1938	-6.2	-3.4
1939	7.0	8.1
1940	10.0	8.8
1941	25.0	17.1
1942	27.7	18.5
1943	22.7	16.4
1944	10.7	8.1
1945	1.5	-1.1
1946	-0.4	-11.0
1947	9.8	-0.9
1948	10.2	4.4
1949	-0.7	-0.5
1950	9.9	8.7
1951	15.5	7.7
1952	5.6	3.8
1953	5.9	4.6
1954	0.3	-0.7
1955	9.0	7.1
1956	5.5	1.9
1957	5.4	2.0
1958	1.3	-1.0
1959	8.4	7.1
1960	3.9	2.5
1961	3.5	2.3
1962	7.5	6.1
1963	5.5	4.4
1964	7.4	5.8
1965	8.4	6.4
1966	9.5	6.5
1967	5.7	2.5
1968	9.3	4.8
1969	8.2	3.1
1970	5.5	0.2
1971	8.5	3.4
1972	9.9	5.3
1973	11.7	5.8
1974	8.5	-0.5
1975	9.2	-0.2
1976	11.4	5.3
1977	11.3	4.6
1978	13.0	5.6
1979	11.7	3.2
1980	8.8	-0.2
1981	12.2	2.5
1982	4.0	-1.9
1983	8.7	4.5
1984	11.2	7.2
1985	7.3	4.1
1986	5.7	3.5
1987	6.2	3.4
1988	7.7	4.1
1989	7.5	3.5
1990	5.8	1.9
1991	3.3	-0.2
1992	5.7	3.3
1993	5.0	2.7	Clinton
1994	6.2	4.0	Term
1995	4.6	2.5	Began
1996	5.7	3.7	Jan1993
1997	6.2	4.5
1998	5.3	4.2
1999	6.0	4.5
2000	5.9	3.7
2001	3.2	0.8	Bush
2002	3.4	1.6	Term
2003	4.8	2.7	Began
2004	7.0	4.2	Jan2001

2005*   5.5*      3.4*

http://www.bea.doc.gov/bea/dn/gdpchg.xls

 

[Toskrin]

Economics is an advancing science. Ovr the last 25 years, we have not be able to incrase the growth rate of the economy. However, we have done a lot to reduce the year-to-year deviation. As much as they are maligned, Volcker and Greenspan have brought science to the management of our economy.

[driftless]

Thanks for mentioning education and economics. I have come to believe that free-market capitalism should be taught in schools. The little "economic" instruction I receive in high school revolved around learning about the "evil robber barons". I would bet that most teachers are economic illiterates. I'm sure that would not surprise too many people.