Today, the Bureau of Labor Statistics released new jobs figures – 18,000 jobs created in December. Since August 2003, more than 8.3 million jobs have been created, with more than 1.3 million jobs created throughout 2007. Our economy has now added jobs for 52 straight months – the longest period of uninterrupted job growth on record. The unemployment rate remains low at 5 percent. The U.S. economy benefits from a solid foundation, but we cannot take economic growth for granted and economic indicators have become increasingly mixed. President Bush will continue working with Congress to address the challenges our economy faces and help facilitate long-term economic growth, job growth, and better standards of living for all Americans.
The U.S. Economy Benefits From A Solid Foundation
Real GDP grew at a strong 4.9 percent annual rate in the third quarter of 2007. The economy has now experienced six years of uninterrupted growth, averaging 2.8 percent a year since 2001.
Real after-tax per capita personal income has risen by 11.7 percent – an average of more than $3,550 per person – since President Bush took office.
Over the course of this Administration, productivity growth has averaged 2.6 percent per year. This growth is well above average productivity growth in the 1990s, 1980s, and 1970s.
The Federal budget deficit is down to 1.2 percent of GDP (in FY07), well below the 40-year average. Economic growth contributed to the highest tax revenues on record and a $250 billion drop in the deficit over the last three years.
U.S. exports in October 2007 were 13.7 percent higher than exports in October 2006.
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Of course, you won't read about that in any of the newspapers unless you read the business newspapers/journals. Otherwise, the economy is in a shambles, we're all going to die from global warming, and we need to completely revert to a 15th century lifestyle imposed upon us by Al Gore in order to alleviate it. (Newsflash: We're all going to die, and it will not be from global warming. Get over it.)
1 comment:
This just can't be right. I've heard how bad the economy is on TV, and read about it in the paper too. Now you're telling me they could be lying? How Dare You cast doubt and spread GOOD news? And to doubt the Goracle? Nothing good can come from your doubting ways.
BTW, I'm sitting here with a foot of Global Warming outside, playing on my laptop, and can do so because last year was good financially. I don't need to work when the Gore's Warming closes most roads.
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