Monday, May 7, 2007

Quiz - Has The US Been In A Recession or Boom Over The Last Five Years?

Very good IBD editorial today. Did you know (the following bulletpoints are from the text of the editorial):

• Real gross domestic product has soared $1.64 trillion, or 16.5%, during a five-year stretch that has yet to see a downturn and that has witnessed average annual growth of 3%.
• Disposable personal income — what's left after taxes — has jumped $2.16 trillion, or 29%, to $9.68 trillion.
• Productivity, the fuel for future standards of living, has improved 14.3%.
• Overall employee compensation has expanded 4% a year.
• Net wealth, the amount people would have after paying off their debts, has swelled $15.2 trillion, or 38%, to $55.6 trillion. That gain in just five years is more than the total wealth amassed in the first 210 years of America's existence — an unprecedented surge.
• About 69% of Americans now own their homes, an all-time high.
• The jobless rate, now at 4.4%, remains below its 40-year average. Since August 2003, 7.8 million new jobs have been created.

• Tax receipts have surged 43%, or $757.6 billion, again thanks to economic growth.

You didn't? Could it be because the Useful Idiots haven't reported it? Another question: Do you really think if the Rodham-Clinton Administration or the Obama Administration was presiding over this economy and it was this vibrant that it'd be such a secret? I think we all know the answer.