The Economy Is Booming
Published November 05, 2004
If you got all your information on the state of the economy from the John F. Kerry campaign, you would think we're in the middle of a second Great Depression or something. But nothing could be further from the truth.
Here are some important numbers:
- 337,000 new jobs were created in October 2004
- 2.2 million new jobs have been created since August 2003
- The economy grew at a 3.7% annual rate in the third quarter of 2004
- Business productivity has grown by better than a 3% annual rate through the first three quarters of 2004
So, more jobs, higher productivity, a growing economic base, and historically-low unemployment. This, during a time of war and uncertainty about terrorist attacks.
Not bad, Mr. President. In fact, pretty damn good.
Now someone needs to tell the Democrats to crawl out of their Hoovervilles and get back to work.
RJ Elliott is a graduate student studying Criminal Justice at the University Of Central Florida. His likes include nature, sports, and pierced blondes. He dislikes daytime television, left-wing dictators, and lead-tainted Chinese imports. He is ambivalent about Angelina Jolie.
- The Economy Is Booming
- Published: November 05, 2004
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- Section: Politics
- Writer: RJ Elliott
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Comments on this articleComments
October's job numbers are especially impressive since they were so lackluster for September. And lets not forget that in January of 05, the federal government has already set the expectation that they will probably adjust the job numbers overall upward since they often underestimate the number of new jobs from month to month.
David
good gawd, you people are gonna get "smug poisoning".
Well, its about time we had some positive numbers. Now all we need to do is get our ass out of the deficit hell that supposedly gave us all this prosperity! If he can do that and still do everything that needs to be done then you can mark me impressed. RJ, in the future cite your sources before posting stats so your readers know that you are not making this all up. Thanks.
RJ, keep in mind that just because we have finally hit the target he has missed 13 times out of the past 16 months so blowing smoke up his and and yours is no way to be honest and it surely is not debunking any "liberal" lies. Were on the rebound finally which does happen as part of the natural cycle but I wouldn't give the president that much credit. He has the power to cut taxes and increase government spending which he has done. Now he needs to find a way to get us out of the hole that he created. That is the true challenge and I would love to see him succeed.
According the wire story I read with those numbers, the majority of the jobs created are due to repairing the damage from four hurricanes in about a month. So you're doing fine as long as you have an incredibly destructive event every quarter.
There is a difference between quality and quantity. RJ sounds like that couple who demanded $1,000 to not disrupt a movie shoot, but weren't too happy when the producer paid them in pennies.
Without context, all of the numbers you cited are meaningless. Treating cancer and cleaning up toxic waste is counted as productivity as is causing cancer and dumping toxic waste (counted as an "externality").
Please explain how the numbers you cited aren't just a Ponzi scheme, and like math class, show your work.
Otherwise STFU.
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If the economy is doing so well, why was the Bush administration trying to reclassify working in a burger bar as being in the manufacturing industry?
How long ago was it Michael Dukakis pointed out that "we cannot all cut each other's hair and flip each other's burgers"?