QUOTING...Factoring in growth from the second quarter (April through June), we’ve seen growth of 4.2% over the last six months – the strongest in 11 years. What’s more, this is the first time since before the 2008 crash that we’ve seen growth above 3% in four of the last five quarters. Though the final GDP tally will still be revised once more, all of the news looks very good at this point, including improved consumer spending and business investment. As for the politics of this, one wonders how Republicans will explain the data. Remember, while no one is suggesting the economy is suddenly booming – it’s not – it is improbably strong given economic downturns abroad. For that matter, Republicans are convinced – or, at least they claim to be convinced – that the combination of the Affordable Care Act, federal regulations, Dodd-Frank reforms, and higher taxes approved last year are a brutal “wet blanket” on economic growth...ENDQUOTE...(and in spite of reports of the stock market at unprecedented highs, decent paying job growth is up, corporate profits at their highest levels in a decade,...puppets like Boner and Ryan say their masters are struggling and on hard times...and need more tax breaks if they are to make ends meet...what b.s....(maybe make the ends of their mooring lines for their yachts meet...(and this is the corporate fascists scheme..plain loudly enough, and accept whatever additional funds they can get outta their minions in DC...its just extra gravy to the corporate fascists while poor children starve...)
Posted on: Tue, 25 Nov 2014 22:29:04 +0000
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