U.S. Economy: 1st-Qtr GDP Lifted by Business Spending

Bloomberg.com ^ | 6/27/02 | Siobhan Hughes and Monee Fields-White

[GeneD]

Washington, June 27 (Bloomberg) -- The U.S. economy expanded during the first quarter at a 6.1 percent annual rate, the fastest in more than two years, boosted by the first increase in business spending on equipment and software since 2000.

[DoughtyOne]

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[DoughtyOne]

I have wondered about a number of issues the last few years along these lines.

When our manufacuring workers were dumped and they had to pick up service sector jobs, the tax rolls should have been affected. When we send all manufacturing overseas, it disrupted tax revenues. Items that used to be taxed as US manufacturing prices, was now taxed at production rates from foreign lands. Taxes had to be effected. Now we have people unemployed, but others are working at jobs that pay less as well.

Revenues have either not been affected, or you're right. I'm betting on you.

[VOA]

The U.S. economy expanded during the first quarter at a 6.1 percent annual rate,
the fastest in more than two years, boosted by the first increase in business
spending on equipment and software since 2000.

There must be a news embargo on this news.

Regardless of how truthful or significant the numbers are...I haven't heard a PEEP
about this news on talk radio...listening most of the day on two major talk
radio stations in Los Angeles.

Boy, the Democratic plants in all the news organizations must be putting
the choke hold on this one.