Vote Bush out - here are the reasons why Message Board

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Politics : Vote Bush out - here are the reasons why

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To: ChinuSFO who wrote (331)	9/29/2004 4:28:21 PM
From: Sully-	of 383

More bad news for the Kerry Kamp, which means good news for America.......... :-o 2nd Quarter GDP Growth Stronger Than Expected More good news on the economy was announced by the Bureau of Economic Analysis today, with GDP growth during the 2nd quarter being larger than expected. The Joint Economic Committee (JEC) notes: The Bureau of Economic Analysis (BEA) announced today that GDP grew at a seasonally-adjusted annual rate of 3.3 percent during the 2nd quarter, up from a previous estimate of 2.8 percent growth. Major contributors to the growth in GDP were business investment, consumer spending, and private inventory investment. Business investment, the lack of which drove the economy into recession in 2001, increased by 12.5 percent in the 2nd quarter and has now increased for five consecutive quarters. GDP has increased for eleven consecutive quarters. Some highlights... During the 2nd quarter of 2004, GDP grew at a seasonally-adjusted annual rate of 3.3 percent. Over the past year, GDP has increased by 4.8 percent. Business investment was stronger than expected, growing at a robust 12.5 percent annualized pace in the 2nd quarter. Export growth was strong and the revised 2nd quarter trade deficit was slightly smaller than previously estimated. Residential investment, primarily home building, was also revised up and is now estimated to have grown at a very strong 16.5 percent annualized rate. This is the second strongest quarterly growth in home building in eight years. I blame the Bush tax cuts... UPDATE: An economist on Capitol Hill tells Blogs For Bush in response to the media bias on this news: During the 1990s, average quarterly GDP growth was 3.3 percent. What has it been over the past year? 4.9 percent. That ought to put our recent growth context. Last quarter's growth was the same as the average growth throughout the 1990s. Is the media going to suggest that economic growth was subpar during the 1990s? mattmargolis.com

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