Your President at Work
-- Jayson
PoliPundit.com (all relevant links below)
Here’s the Associated Press’ partisan spin cycle about the Prez’s economic mini-summit from earlier today.
<< Bush Concerned Over Energy, Health Costs >>
Before the AP re-wrote that editorial/news piece – and thereby made it even more biased! – the Prez was quoted as saying the economy is “strong,” and the “foundation for sustained growth is in place.”
Yep.
Over the past 30 months, the economy has averaged an inflation-adjusted growth rate of 4.04 percent. By way of comparison, back during the exact same stage of Saint Bill’s presidency – as the media was shouting we were in the midst of the “greatest economic expansion of all time” – the economy averaged a real growth rate of 3.52 percent.
Total consumer inflation this year is running well under 2.5 percent. Back when Jimmy Carter was telling me to expect less from myself, however, the inflation rate was 10-plus percent.
The economy has created a grand total of 1,920,000 net jobs over the past seven months, of which 1,337,000 were on non-farm payrolls. The unemployment rate currently stands at 5.0 percent. Back in July 1997, unemployment stood at 4.9 percent. And the comparable job creation stats were, respectively, 1,962,000 and 1,915,000. On the other hand, fewer people are being laid off from their jobs, at present, when compared to that earlier point in time.
So, ergo, indeed, I’d say things are looking pretty decent out there. But, shhhhh, don’t tell Lou Dobbs. Or Krugman. Or Chris Matthews. Or the Sullivan-Drezner bloc. Or Katie, Judy, Bob, Aaron or the rest of the gang.
A mind is a terrible thing to taste . . .
polipundit.com
news.yahoo.com
polipundit.com
bea.doc.gov
inflationdata.com
polipundit.com
data.bls.gov
polipundit.com |
