If you read this report (PDF) from the Bureau of Economic Analysis you'll see that the preliminary report on first quarter GDP growth is that it advanced at a 4.8% annual rate. This is, of course, preliminary - it could end up above or below that figure, but it should be pretty close to it.
That is pretty good, don't ya think?
The report notes something that I never knew until now - imports, which increased in the first quarter, are subtracted from the GDP figure. This makes sense, but it shows that given our massive imports, our economy has actually been growing more than the statistics show.
We here at B4B continue to blame the tax cuts for this sorry state of affairs...must be hard to be a Democrat talking about the economy these days.
Posted by Mark Noonan at April 28, 2006 12:34 PM
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For an advanced, industrial nation, 4% is the top of "good". Add close to a fifth improvement on that and we're in "stellar" territory, or would be if such statistics obtained under President Gore. But that's okay. Just like droves of oil futures traders are going to cash in fulfilling contracts at $70+ with goo priced at
Posted by: megapotamus at April 28, 2006 03:50 PM
Posted by: Warriornation at April 28, 2006 04:27 PM
Posted by:
CJ at April 28, 2006 04:56 PM
God bless you President George W. Bush for presiding over the strongest economy in American history. Strongest economy, 4.7 percent unemployment, 4.8 percent GDP growth, lowest crime rate in 30 years, no attacks in USA in over 4 1/2 years, cheaper drugs for all our parents, lots of dead terrorists, 50 million freed, saddam hussein making license plates in an orange jumpsuit. Don't everyone thank President Bush all at once.
Posted by: james allegro at April 28, 2006 06:35 PM
Wow a booming economy and we've only spent $2 trillion of our kids money.
Now on top of all this boom we are each gonna get a $100 bonus check (thanks kids) which we can spend on more gas to help the ailing oil companies and then our kids can pay off that bill too......do you guys ever feel shame? Actually the Republicans and oil whores should feel shame. Their lowely minion supporters and apologists should feel....well um...I guess whatever an abused house wife feels when she makes excuses for her husband beating her....ask your wives they could tell you what that feels like...
Posted by: muirgeo at April 28, 2006 10:04 PM
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For an advanced, industrial nation, 4% is the top of "good". Add close to a fifth improvement on that and we're in "stellar" territory, or would be if such statistics obtained under President Gore. But that's okay. Just like droves of oil futures traders are going to cash in fulfilling contracts at $70+ with goo priced at
Bush's fault clearly
I blame the tax cuts
God bless you President George W. Bush for presiding over the strongest economy in American history. Strongest economy, 4.7 percent unemployment, 4.8 percent GDP growth, lowest crime rate in 30 years, no attacks in USA in over 4 1/2 years, cheaper drugs for all our parents, lots of dead terrorists, 50 million freed, saddam hussein making license plates in an orange jumpsuit. Don't everyone thank President Bush all at once.
Wow a booming economy and we've only spent $2 trillion of our kids money.
Now on top of all this boom we are each gonna get a $100 bonus check (thanks kids) which we can spend on more gas to help the ailing oil companies and then our kids can pay off that bill too......do you guys ever feel shame? Actually the Republicans and oil whores should feel shame. Their lowely minion supporters and apologists should feel....well um...I guess whatever an abused house wife feels when she makes excuses for her husband beating her....ask your wives they could tell you what that feels like...