The American economy has created more jobs than all the countries in the Euro zone and Japan combined, and our economy is growing today faster than that of any major industrialized nation in the world. . .It grew at an annual rate of 4.8 percent in the first quarter. It added more than 5.2 million jobs in the last two and a half years.
Employment is at near all-time high. Claims for unemployment insurance are at a five-year low. The unemployment rate is 4.7 percent; well below the average for each of the last three decades.
Core inflation remains low: just over 2.1 percent for the past 12 months. . . Real disposable income has risen almost 14 percent since President Bush took office. The Dow Jones industrial average is near its all-time high. And since the 2003 tax cuts have been passed, asset values, including homes and stocks, have grown by $13 trillion. . .
Under this president, federal spending as a percentage of the economy is lower than that under four of the last five presidents.
Monday, May 15, 2006
Economic Sunshine: Can You See It?
Today, Karl Rove spoke to the American Enterprise Institute about the successful American economy (full text here):
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2 comments:
I'm shocked, shocked! that we hear so little about the employment situation from the Democrats who pilloried George Bush for having lost some 2 million jobs (I think that was the number) in the period before the 2004 election. I suppose they have been too busy pouring out their sympathy to all those who they predict will lose their jobs if the Bush prosperity and growth rate continue. Do I have that right?
Blunderbus is right about Democrat amnesia, which is accompanied by never giving credit to the Republican congress for the job creation they so willingly attribute to Clinton for the 1995-2000 period.
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