Friday, January 29, 2010

Things are Looking Up.

It is hard to see how anybody could spin this economic data as anything but good news.  According to the latest figures, the GDP grew at a rate the last quarter that is much higher than anyone predicted.  So while the right keeps raising alarmist cries about how the new administration hates capitalism and is hell-bent on wrecking the economy; and the left is belly-aching about how the administration is still pandering to the fat cats on Wall Street; and while the average person is still wondering where their bail-out is, meanwhile the economy is just ripping along at a pace that has to help practically everyone. 

Does anyone want to give the administration credit for steering a steady course that is leading to solid improvements? Of course there are still problems left to solve. We still have high unemployment. We still need new regulations to prevent another potential financial meltdown. We will need to bring the deficit under control. But in the meantime, we ought to be encouraged by economic growth that makes other improvements possible.

(New York Times chart)

No comments:

Post a Comment