Yet more good news for the Bush economy was made public yesterday, estimates from a month ago ringing true.
The Commerce Department reported that the overall economy grew at an annual rate of 8.2 percent in the July-September quarter . . . the best performance since the final three months of 1983.
Unemployment is down as well.
The jobless rate, which peaked at 6.4 percent this summer, fell to 5.9 percent in November.
Following the tech bubble bust near the turn of the millennium, coupled with 9/11 and the threat of terrorism that followed, the American economy has never looked better. So good, in fact, that some in the media are even admitting the benefits of the Bush tax cuts.
Bush’s latest round of tax cuts triggered a surge in consumer spending this summer as the government mailed out millions of child tax rebate checks.
With more money in their pockets, Americans are spending. Whether they’re rich, and decide to invest their money, or otherwise, and decide to spend it, money is circulating. And when money circulates, everyone wins.