Day By Day

Thursday, August 28, 2008

The Bush Economy

AP reports:
Gross domestic product, or GDP, grew at a 3.3 percent annual rate in the April-June quarter, its fastest pace in nearly a year, the Commerce Department reported Thursday. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate.
Read it here.

Of course this is the AP, so they frame this positive news in as depressing a context as they can manage. They cherry pick quotes from the reliable doomer brigades indicating that even if the American economy is performing very well now, it surely will do worse in the future.

Meanwhile Gateway Pundit, responding to Bill Clinton's self-congratulatory speech last night, points out that both the unemployment rate and the poverty rate under George Bush have actually been better than they were under Clinton.

Read it here.