Granted, the first tax rebates of 2001 were a loser, as for stimulating the economy. Rebates almost NEVER work, and are usually a Democrat Ploy to redistribute wealth, but not stimulate investment. Consumption is their intent, as they are almost all Demand-Siders, and are ignorant of Classical Economics that got us started in the First Place.
But the 2003 Tax Bill, was the siphon that started the economic engine that had been languishing under the 9/11 attack, Deflationary recession, and the cost of the WOT, not to mention the outrageous spending of the Republican Congress and high spending President. Fortunately, he got one thing right, in a HUGE way.
The target Tax cuts, aimed to stimulate growth, has been a Winner, and only the most hardened Demand-Sider and Collectivist Kook can honestly deny it's impact.
Here is the latest news, and not from a "so called" biased right wing site.
Productivity Expands At A Faster Pace
By MARTIN CRUTSINGER
AP Economics Writer
Dec 06 8:44 AM US/Eastern
WASHINGTON - The productivity of American workers shot up at the fastest pace in two years during the July-September quarter, helping to ease fears that inflation pressures were threatening to get out of hand. The Labor Department reported Tuesday that productivity, the key component for rising living standards, rose at an annual rate of 4.7 percent during the summer, a big upward revision from the 4.1 percent initial estimate made a month ago.
The big jump in worker efficiency help to push labor costs down by 1 percent at an annual rate in third quarter, double the 0.5 percent drop in unit labor costs that had originally been reported. The stronger productivity and falling labor costs should help ease fears at the Federal Reserve that overall inflation was on the verge of worsening because of rising wage pressures.
Productivity is the key factor that determines whether living standards are improving. Gains in productivity allow companies to pay their workers higher salaries from their increased production without having to increase the price of the products they sell, which would fuel inflation.
The Fed is closely monitoring productivity and unit labor costs as it determines how fast it needs to boost interest rates to keep inflation from appearing.
Good gains in productivity and small increases in labor costs have allowed the central bank to boost interest rates at a gradual pace over the past 18 months. Analysts are looking for two more quarter- point rate hikes in December and January, the final two meetings for Chairman Alan Greenspan. And they believe his designated successor, Ben Bernanke, will keep raising rates at least in the early months of his tenure.
The 4.7 percent rate of increase for productivity in the third quarter was sharply higher than the 2.1 percent increase for the April-June quarter. It was the best showing since a 9.6 percent surge in the third quarter of 2003.
The 1 percent drop in unit labor costs marked the second consecutive quarter that labor costs have fallen after three quarters of big increases that had raised worries that wage pressures were beginning to mount. Unit labor costs declined at a 1.2 percent rate in the second quarter.
The upward revision in productivity reflected the fact that the government last week revised upward overall economic growth for the third quarter to an annual rate of 4.3 percent. It had originally estimated that the gross domestic product was growing at a 3.8 percent rate in the third quarter.
The increased amount of output meant that workers had produced more per hour of work than originally estimated.
Full Version: Great Economic News Just Keeps Pouring In!
Oh My G-d, It Just Won't Quit! Even Hurricane Katrina can't slow it down. So, why are the Dems obsessed and anxiety laden?
Orders to U.S. factories bounce back
Associated Press
WASHINGTON — Orders to U.S. factories posted a solid increase in October, the government reported today, providing the latest evidence that the economy is rebounding from the Gulf Coast hurricanes and a spike in energy prices.
The Commerce Department said that demand for manufactured goods rose by 2.2 percent to a seasonally adjusted $399.8 billion in October, erasing a 1.4 percent September decline when demand was jolted by the hurricanes, a strike at aircraft giant Boeing and a jump in energy costs.
The October increase was in line with economists' expectations. Orders for durable goods, items expected to last three or more years, increased by 3.7 percent while demand for nondurable goods rose by 0.5 percent.
In other news, the productivity of American workers shot up at an annual rate of 4.7 percent in the July-September quarter, the best showing in two years. The new report from the Labor Department represented a big upward revision from an initial estimate made a month ago that productivity was growing at a 4.1 percent rate in the third quarter.
The big jump in worker efficiency helped to push labor costs down by 1 percent at an annual rate in third quarter, double the 0.5 percent drop in unit labor costs that had originally been reported. The stronger productivity and falling labor costs should help ease fears at the Federal Reserve that overall inflation was on the verge of worsening because of rising wage pressures.
The 2.2 percent overall rise in durable goods was the best showing since a 2.9 percent jump in August. It showed that manufacturing, which was the hardest hit sector in the 2001 recession, is showing resilience in the face of rising energy costs and the devastation caused by hurricanes Katrina, Rita and Wilma, which caused widespread destruction along the Gulf Coast.
The 3.7 percent gain in orders for durable goods was even better than an initial estimate of a 3.4 percent increase made last week. The gain was led by a 142 percent rise in orders for military aircraft and parts and a 50.6 percent jump in orders for commercial aircraft.
The 4.7 percent rate of increase for productivity in the third quarter was sharply higher than the 2.1 percent increase for the April-June quarter. It was the best showing since a 9.6 percent surge in the third quarter of 2003.
The 1 percent drop in unit labor costs marked the second consecutive quarter that labor costs have fallen after three quarters of big increases that had raised worries that wage pressures were beginning to mount. Unit labor costs declined at a 1.2 percent rate in the second quarter.
The upward revision in productivity reflected the fact that the government last week revised upward overall economic growth for the third quarter to an annual rate of 4.3 percent. It had originally estimated that the gross domestic product was growing at a 3.8 percent rate in the third quarter.
The increased amount of output meant that workers had produced more per hour of work than originally estimated.
President Bush, battling the lowest approval ratings of his presidency, is seeking to draw attention to a spate of recent indicators showing that the economy has regained its footing following the blows from the Gulf Coast hurricanes and a surge in energy prices.
In a North Carolina speech on Monday, Bush declared that "this economy is strong and the best days are yet to come for the American economy."
In addition to the rebound in factory orders and the upward revisions to GDP and productivity, the government on Friday reported that employment grew by a solid 215,000 in November, ending a two-month lull which had reflected sizable layoffs in New Orleans and other areas along the Gulf Coast.
Productivity is the key factor that determines whether living standards are improving. Gains in productivity allow companies to pay their workers higher salaries from their increased production without having to increase the price of the products they sell, which would fuel inflation.
The Fed is closely monitoring productivity and unit labor costs as it determines how fast it needs to boost interest rates to keep inflation from appearing.
Good gains in productivity and small increases in labor costs have allowed the central bank to boost interest rates at a gradual pace over the past 18 months.
Analysts are looking for two more quarter-point rate hikes in December and January, the final two meetings for Chairman Alan Greenspan. And they believe his designated successor, Ben Bernanke, will keep raising rates at least in the early months of his tenure.
Orders to U.S. factories bounce back
Associated Press
WASHINGTON — Orders to U.S. factories posted a solid increase in October, the government reported today, providing the latest evidence that the economy is rebounding from the Gulf Coast hurricanes and a spike in energy prices.
The Commerce Department said that demand for manufactured goods rose by 2.2 percent to a seasonally adjusted $399.8 billion in October, erasing a 1.4 percent September decline when demand was jolted by the hurricanes, a strike at aircraft giant Boeing and a jump in energy costs.
The October increase was in line with economists' expectations. Orders for durable goods, items expected to last three or more years, increased by 3.7 percent while demand for nondurable goods rose by 0.5 percent.
In other news, the productivity of American workers shot up at an annual rate of 4.7 percent in the July-September quarter, the best showing in two years. The new report from the Labor Department represented a big upward revision from an initial estimate made a month ago that productivity was growing at a 4.1 percent rate in the third quarter.
The big jump in worker efficiency helped to push labor costs down by 1 percent at an annual rate in third quarter, double the 0.5 percent drop in unit labor costs that had originally been reported. The stronger productivity and falling labor costs should help ease fears at the Federal Reserve that overall inflation was on the verge of worsening because of rising wage pressures.
The 2.2 percent overall rise in durable goods was the best showing since a 2.9 percent jump in August. It showed that manufacturing, which was the hardest hit sector in the 2001 recession, is showing resilience in the face of rising energy costs and the devastation caused by hurricanes Katrina, Rita and Wilma, which caused widespread destruction along the Gulf Coast.
The 3.7 percent gain in orders for durable goods was even better than an initial estimate of a 3.4 percent increase made last week. The gain was led by a 142 percent rise in orders for military aircraft and parts and a 50.6 percent jump in orders for commercial aircraft.
The 4.7 percent rate of increase for productivity in the third quarter was sharply higher than the 2.1 percent increase for the April-June quarter. It was the best showing since a 9.6 percent surge in the third quarter of 2003.
The 1 percent drop in unit labor costs marked the second consecutive quarter that labor costs have fallen after three quarters of big increases that had raised worries that wage pressures were beginning to mount. Unit labor costs declined at a 1.2 percent rate in the second quarter.
The upward revision in productivity reflected the fact that the government last week revised upward overall economic growth for the third quarter to an annual rate of 4.3 percent. It had originally estimated that the gross domestic product was growing at a 3.8 percent rate in the third quarter.
The increased amount of output meant that workers had produced more per hour of work than originally estimated.
President Bush, battling the lowest approval ratings of his presidency, is seeking to draw attention to a spate of recent indicators showing that the economy has regained its footing following the blows from the Gulf Coast hurricanes and a surge in energy prices.
In a North Carolina speech on Monday, Bush declared that "this economy is strong and the best days are yet to come for the American economy."
In addition to the rebound in factory orders and the upward revisions to GDP and productivity, the government on Friday reported that employment grew by a solid 215,000 in November, ending a two-month lull which had reflected sizable layoffs in New Orleans and other areas along the Gulf Coast.
Productivity is the key factor that determines whether living standards are improving. Gains in productivity allow companies to pay their workers higher salaries from their increased production without having to increase the price of the products they sell, which would fuel inflation.
The Fed is closely monitoring productivity and unit labor costs as it determines how fast it needs to boost interest rates to keep inflation from appearing.
Good gains in productivity and small increases in labor costs have allowed the central bank to boost interest rates at a gradual pace over the past 18 months.
Analysts are looking for two more quarter-point rate hikes in December and January, the final two meetings for Chairman Alan Greenspan. And they believe his designated successor, Ben Bernanke, will keep raising rates at least in the early months of his tenure.
I just can't resist all this "Great News". so I will blow my economic horn here, and sing the songs of tax cuts, and how they show that the Laffer Curve is grounds for a Nobel Prize in Economics.
------------------
'The Tax Cuts Are Working'
New York Sun Staff Editorial
December 6, 2005
URL: http://www.nysun.com/article/24018
Government does not create wealth. American businesses and workers and farmers and entrepreneurs create the wealth for this country. And so the role of the government is to create an environment where the small businesses can grow into a big business, where the entrepreneur can flourish, where people who dream about owning a home are able to own a home. In our economy, our most precious resource is the talent of the American worker - and there is no limit to what we can do when people have the freedom to make a better life for themselves and their family.
President Bush, Kernersville, N.C.
December 5, 2005
Supply-side is back, and not a moment too soon. In a major speech yesterday, President Bush finally retook the offensive in Washington's brewing economic policy fight. In the face of Democratic calls for allowing the president's first-term tax cuts to expire and Republican lack of willpower on spending restraint, Mr. Bush noted that those tax cuts are working to spur economic growth. His speech was not merely a matter of resting on his laurels. The president has struck the notes that many of us have been waiting for and that he can use to inspirit the next three years of his presidency.
Save for the dollar, he has made great gains, which he made the best of yesterday. Unemployment is down to 5%, better than the average for the 1970s, 1980s, and 1990s. The economy has expanded by 4.5 million new jobs since May 2003, including 215,000 in November. Just last week, the third quarter estimate for growth in domestic output was revised upward, to 4.3%.
Much of the credit goes to Mr. Bush's tax cuts both on individual income tax rates - which also, as he pointed out in his address yesterday, apply to many small businesses that file as individuals - and on capital gains and dividends.
The president's emphasis was on the need to keep this boom going and on his vision for how to do so. He comprehends that, as he put it, "we can't take this growth for granted." His proposed solution is "a commitment to keeping your taxes low, and at the same time being wise about how we spend your money." The post-tax cut numbers speak for themselves now that Mr. Bush is actually trumpeting them. His speech yesterday also reminded us of why the supply-side creed of tax cuts and spending restraint should be an easy sell for Republicans who bother to try.
When the president spoke of America being a "confident and optimistic nation," he used language that President Reagan proved resonates with the American public. It's a view that leads him to emphasize an ownership society in which Americans can buy into the American dream - hence his focus on expanding homeownership and offering health savings accounts, as well as keeping the Social Security reform debate alive. And to approach trade issues in the context of a broad optimism.
In the heart of protectionist North Carolina, Mr. Bush argued that "keeping this economy strong means welcoming opportunities that a global economy offers.... By opening up new markets for our goods and our farm products and our services, we will help our economy continue to grow and create opportunity for people right here in our country." He called on "economic isolationists" in Washington to "have more faith in the American worker and in the entrepreneur."
The president showed yesterday that on a fundamental level he "gets it." He understands that economic policy should be oriented toward creating the wealth of the future, not divvying up the wealth of the past, so that growth-spurring tax cuts must be a centerpiece of any economic program. He understands that this is a fundamentally optimistic message about the possibilities of America's markets and that the public will respond to this optimism.
Mr.Bush clearly comprehends the principles of the Reagan era. "Some of us remember hearing the pessimists in the 1970s and 1980s, when we were told that America was tired and could no longer compete with Japan. At that moment, Ronald Reagan's tax cuts were just beginning to kick in, and that set off one of the largest economic expansions in history," he said.
"At the start of this new century," Mr. Bush said yesterday, "we have proven that pro-growth economic policies out of Washington, D.C., do work, and can overcome some mighty obstacles. At the start of the century, we recommit ourselves to the notion that the more free people are, the better off your economy will be.... This economy is strong, and the best days are yet to come for the American economy." And, it would appear, for the Bush administration.
------------------
'The Tax Cuts Are Working'
New York Sun Staff Editorial
December 6, 2005
URL: http://www.nysun.com/article/24018
Government does not create wealth. American businesses and workers and farmers and entrepreneurs create the wealth for this country. And so the role of the government is to create an environment where the small businesses can grow into a big business, where the entrepreneur can flourish, where people who dream about owning a home are able to own a home. In our economy, our most precious resource is the talent of the American worker - and there is no limit to what we can do when people have the freedom to make a better life for themselves and their family.
President Bush, Kernersville, N.C.
December 5, 2005
Supply-side is back, and not a moment too soon. In a major speech yesterday, President Bush finally retook the offensive in Washington's brewing economic policy fight. In the face of Democratic calls for allowing the president's first-term tax cuts to expire and Republican lack of willpower on spending restraint, Mr. Bush noted that those tax cuts are working to spur economic growth. His speech was not merely a matter of resting on his laurels. The president has struck the notes that many of us have been waiting for and that he can use to inspirit the next three years of his presidency.
Save for the dollar, he has made great gains, which he made the best of yesterday. Unemployment is down to 5%, better than the average for the 1970s, 1980s, and 1990s. The economy has expanded by 4.5 million new jobs since May 2003, including 215,000 in November. Just last week, the third quarter estimate for growth in domestic output was revised upward, to 4.3%.
Much of the credit goes to Mr. Bush's tax cuts both on individual income tax rates - which also, as he pointed out in his address yesterday, apply to many small businesses that file as individuals - and on capital gains and dividends.
The president's emphasis was on the need to keep this boom going and on his vision for how to do so. He comprehends that, as he put it, "we can't take this growth for granted." His proposed solution is "a commitment to keeping your taxes low, and at the same time being wise about how we spend your money." The post-tax cut numbers speak for themselves now that Mr. Bush is actually trumpeting them. His speech yesterday also reminded us of why the supply-side creed of tax cuts and spending restraint should be an easy sell for Republicans who bother to try.
When the president spoke of America being a "confident and optimistic nation," he used language that President Reagan proved resonates with the American public. It's a view that leads him to emphasize an ownership society in which Americans can buy into the American dream - hence his focus on expanding homeownership and offering health savings accounts, as well as keeping the Social Security reform debate alive. And to approach trade issues in the context of a broad optimism.
In the heart of protectionist North Carolina, Mr. Bush argued that "keeping this economy strong means welcoming opportunities that a global economy offers.... By opening up new markets for our goods and our farm products and our services, we will help our economy continue to grow and create opportunity for people right here in our country." He called on "economic isolationists" in Washington to "have more faith in the American worker and in the entrepreneur."
The president showed yesterday that on a fundamental level he "gets it." He understands that economic policy should be oriented toward creating the wealth of the future, not divvying up the wealth of the past, so that growth-spurring tax cuts must be a centerpiece of any economic program. He understands that this is a fundamentally optimistic message about the possibilities of America's markets and that the public will respond to this optimism.
Mr.Bush clearly comprehends the principles of the Reagan era. "Some of us remember hearing the pessimists in the 1970s and 1980s, when we were told that America was tired and could no longer compete with Japan. At that moment, Ronald Reagan's tax cuts were just beginning to kick in, and that set off one of the largest economic expansions in history," he said.
"At the start of this new century," Mr. Bush said yesterday, "we have proven that pro-growth economic policies out of Washington, D.C., do work, and can overcome some mighty obstacles. At the start of the century, we recommit ourselves to the notion that the more free people are, the better off your economy will be.... This economy is strong, and the best days are yet to come for the American economy." And, it would appear, for the Bush administration.
Is this real growth in potential output or just an upswing of the business cycle? And has business expanded enough to start to increase revenue?
I do think we are going the right direction whatever the case. We need to lower spending in whatever way possible though.
I do think we are going the right direction whatever the case. We need to lower spending in whatever way possible though.
QUOTE (Brooklyn @ Dec 6 2005, 03:29 PM)
Is this real growth in potential output or just an upswing of the business cycle? And has business expanded enough to start to increase revenue?
I do think we are going the right direction whatever the case. We need to lower spending in whatever way possible though.
I do think we are going the right direction whatever the case. We need to lower spending in whatever way possible though.
My answers to both your questions would be "yes, and "yes".
Have you read the Supply-Side Lesson plan about the Laffer Curve yet?
Ive gone through about the first 7 parts. It is pretty interesting stuff. I read them when I finish one book and wait for the next one to come in the mail so it is a slow process.....but I'm getting there.
QUOTE (Brooklyn @ Dec 6 2005, 03:46 PM)
Ive gone through about the first 7 parts. It is pretty interesting stuff. I read them when I finish one book and wait for the next one to come in the mail so it is a slow process.....but I'm getting there.
Come again? I am not following you here. The Laffer Curve I mention is on the web site for Jude Wanniski's Supply-Side University.
Which book of seven parts are you referring to? Pardon me, but I am in the dark here.
Let me try again:
Spring Session Lessons #1 thru #7 Ive read. I usually one read about 2 or 3 lessons in between other books I am reading.
BTW: I will purchase The Way the World Works soon and read it as well.
Spring Session Lessons #1 thru #7 Ive read. I usually one read about 2 or 3 lessons in between other books I am reading.
BTW: I will purchase The Way the World Works soon and read it as well.
QUOTE (Brooklyn @ Dec 6 2005, 03:54 PM)
Let me try again:
Spring Session Lessons #1 thru #7 Ive read. I usually one read about 2 or 3 lessons in between other books I am reading.
BTW: I will purchase The Way the World Works soon and read it as well.
Spring Session Lessons #1 thru #7 Ive read. I usually one read about 2 or 3 lessons in between other books I am reading.
BTW: I will purchase The Way the World Works soon and read it as well.
Oh, I get you now! Good Man!
US budget deficit shrinks in 2005
The US budget deficit shrank to $319bn (£180bn) last year as better economic conditions boosted tax revenues.
Despite falling from 2004's record $412bn figure, the federal deficit for the fiscal year ending last month was still the third highest on record.
US Treasury Secretary John Snow hailed the fall, which was larger than had been projected, as "encouraging news".
However, this year's deficit is likely to be swelled by $30bn of spending on post-Hurricane Katrina reconstruction.
Katrina costs
According to figures from the US Treasury Department, only $4bn of the $62bn allocated by Congress in emergency aid for Hurricane Katrina was spent in the last fiscal year.
When it reconvenes on Monday, the House of Representatives will begin the task of identifying $35bn worth of cuts to federal spending needed to offset hurricane recovery costs.
Lower taxes and pro-growth economic policies have created millions of jobs
John Snow
US Treasury Secretary
The 2005 fiscal year deficit amounted to 2.6% of GDP, below the 3.6% recorded in 2004 and the post World War Two high of 6% in 1983.
"While deficits are never welcome, the fact that we finished fiscal year 2005 with a much-lower-than-expected deficit is encouraging news," Mr Snow said.
"Lower taxes and pro-growth economic policies have created millions of jobs and a growing economy that has swelled tax revenues over the past year," he added.
Robust growth
The US economy has enjoyed robust growth, expanding by more than 3% in each of the past nine quarters.
However, the Treasury Department believes Hurricane Katrina could reduce growth by 0.5% in the current quarter.
Katrina contributed to a fall in the number of people in work last month, the first monthly decline in two years.
The White House initially forecast a 2005 deficit of $427bn at the start of the calendar year, but has steadily revised the figure downwards since then.
http://news.bbc.co.uk/1/hi/business/4343814.stm
THA T
IS
ALL!
The US budget deficit shrank to $319bn (£180bn) last year as better economic conditions boosted tax revenues.
Despite falling from 2004's record $412bn figure, the federal deficit for the fiscal year ending last month was still the third highest on record.
US Treasury Secretary John Snow hailed the fall, which was larger than had been projected, as "encouraging news".
However, this year's deficit is likely to be swelled by $30bn of spending on post-Hurricane Katrina reconstruction.
Katrina costs
According to figures from the US Treasury Department, only $4bn of the $62bn allocated by Congress in emergency aid for Hurricane Katrina was spent in the last fiscal year.
When it reconvenes on Monday, the House of Representatives will begin the task of identifying $35bn worth of cuts to federal spending needed to offset hurricane recovery costs.
Lower taxes and pro-growth economic policies have created millions of jobs
John Snow
US Treasury Secretary
The 2005 fiscal year deficit amounted to 2.6% of GDP, below the 3.6% recorded in 2004 and the post World War Two high of 6% in 1983.
"While deficits are never welcome, the fact that we finished fiscal year 2005 with a much-lower-than-expected deficit is encouraging news," Mr Snow said.
"Lower taxes and pro-growth economic policies have created millions of jobs and a growing economy that has swelled tax revenues over the past year," he added.
Robust growth
The US economy has enjoyed robust growth, expanding by more than 3% in each of the past nine quarters.
However, the Treasury Department believes Hurricane Katrina could reduce growth by 0.5% in the current quarter.
Katrina contributed to a fall in the number of people in work last month, the first monthly decline in two years.
The White House initially forecast a 2005 deficit of $427bn at the start of the calendar year, but has steadily revised the figure downwards since then.
http://news.bbc.co.uk/1/hi/business/4343814.stm
THA T
IS
ALL!
Solid growth forecast for '06: Philly Fed
Reuters
NEW YORK - Economists have raised their forecasts for U.S. growth in the first half of 2006 to 3.6 percent, according to a survey conducted by the Philadelphia Federal Reserve Bank.
That compares with a forecast of 3.1 percent growth when the previous survey was taken six months ago, the Fed said.
Forecasts for the second half of this year edged up to 3.7 percent from 3.6 percent.
"These forecasts are higher than in the previous survey, particularly for the first half of 2006, suggesting increasing optimism among the forecasters," the Philadelphia Fed said.
But growth was projected to slow in the second half of next year to 3.1 percent.
Headline consumer prices were seen easing from an average 3.4 percent this year to 2.9 percent in 2006.
The Livingston survey of 42 financial market, academic and corporate economists is conducted twice a year.
Reuters
NEW YORK - Economists have raised their forecasts for U.S. growth in the first half of 2006 to 3.6 percent, according to a survey conducted by the Philadelphia Federal Reserve Bank.
That compares with a forecast of 3.1 percent growth when the previous survey was taken six months ago, the Fed said.
Forecasts for the second half of this year edged up to 3.7 percent from 3.6 percent.
"These forecasts are higher than in the previous survey, particularly for the first half of 2006, suggesting increasing optimism among the forecasters," the Philadelphia Fed said.
But growth was projected to slow in the second half of next year to 3.1 percent.
Headline consumer prices were seen easing from an average 3.4 percent this year to 2.9 percent in 2006.
The Livingston survey of 42 financial market, academic and corporate economists is conducted twice a year.
More Heartburn for the Left. Perhaps Grizzly will start another thread, showing us that the economy is REALLY sitting "on the margin" and in danger of falling off the deep end.
U.S.: Why Economic Growth Is Galloping
Consumers and businesses have lots to spend as they get financially stronger
The economy is proving as unstoppable as the 11-0 Indianapolis Colts. Consumers have kept spending even in the wake of sharply higher energy prices and after their confidence was pummeled by this summer's hurricanes. And despite initial worries over demand generated by the storms and oil hikes, businesses continue to invest in new equipment and add to their payrolls........................................................................
U.S.: Why Economic Growth Is Galloping
Consumers and businesses have lots to spend as they get financially stronger
The economy is proving as unstoppable as the 11-0 Indianapolis Colts. Consumers have kept spending even in the wake of sharply higher energy prices and after their confidence was pummeled by this summer's hurricanes. And despite initial worries over demand generated by the storms and oil hikes, businesses continue to invest in new equipment and add to their payrolls........................................................................
Shame on the writers of this article. They should know better than to use sports references.
GREAT NEWS!!!!! Has the Alien Press picked up any of this?
QUOTE (SoloNav @ Dec 9 2005, 06:22 PM)
GREAT NEWS!!!!! Has the Alien Press picked up any of this?
Ask Grizzly. He is part of the same pack, and could probably tell you better than me.
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