Today’s subject is the booming economy. Yesterday, we learned that the U.S. remains at full employment. June saw another 132,000 new jobs created by the booming economy, with 8.2 million new jobs since August of 2003. Unemployment remains the quite low 4.5% and has been consistently lower than any decade over the last forty years.
Yesterday’s job report highlights the booming Bush economy. Even after the worst exogenous shock experienced by the American economy, 9.11.01, the corporate crises, and the two worst natural disasters in American history, and the increasing cost of energy, the following is the Bush economic record:
Real after-tax per capita personal income has increased by 9.9 Percent – nearly $3,000 per person – since President Bush took office. Real wages rose 1.1% over the 12 months ending In May 2007, faster than the average rate during the 1990s, and it means an extra $729 in the past year for the typical family with two wage earners.
The US economy has now experienced over five years of uninterrupted real growth, averaging 2.9% per year since 2001. Real GDP grew a strong 3.1 percent in 2006.
Productivity Growth has averaged 2.8% since the first quarter of 2001, at the commencement of the Clinton recession following the energy shortages and market declines of the late 90s. The Bush era productivity growth is well above average productivity growth in the 1990s, 1980s, and 1970s.
Manufacturing expanded for the fifth consecutive month In June 2007. The Institute for Supply Management manufacturing index rose to 56 in June.
The federal budget deficit has declined by 165 billion dollars during the last two years. Record federal tax revenues explain most of the decline.
Last week as shown much good economic news indeed. Nonetheless, the mainstream media would have you believe that we are nearing economic panic in the United States.
Yesterday’s job report highlights the booming Bush economy. Even after the worst exogenous shock experienced by the American economy, 9.11.01, the corporate crises, and the two worst natural disasters in American history, and the increasing cost of energy, the following is the Bush economic record:
Real after-tax per capita personal income has increased by 9.9 Percent – nearly $3,000 per person – since President Bush took office. Real wages rose 1.1% over the 12 months ending In May 2007, faster than the average rate during the 1990s, and it means an extra $729 in the past year for the typical family with two wage earners.
The US economy has now experienced over five years of uninterrupted real growth, averaging 2.9% per year since 2001. Real GDP grew a strong 3.1 percent in 2006.
Productivity Growth has averaged 2.8% since the first quarter of 2001, at the commencement of the Clinton recession following the energy shortages and market declines of the late 90s. The Bush era productivity growth is well above average productivity growth in the 1990s, 1980s, and 1970s.
Manufacturing expanded for the fifth consecutive month In June 2007. The Institute for Supply Management manufacturing index rose to 56 in June.
The federal budget deficit has declined by 165 billion dollars during the last two years. Record federal tax revenues explain most of the decline.
Last week as shown much good economic news indeed. Nonetheless, the mainstream media would have you believe that we are nearing economic panic in the United States.