It was 4.4 Percent
As expected, GDP growth was revised UP today, from the initial reading of 4.2 percent to a revised reading of 4.4 percent.
Our very own eagle-eyed and large-brained commenter, Gerry Owen, hit the nail right on the head. Gerry’s prize? Nothing, Gerry. Nothing. Other than, of course, our heart-felt admiration.
P.S. – Make sure you read the above-cited article all the way through. Inflation still looks tame, even with this very robust growth we’ve been experiencing over the past nine months. That truly is astonishing! It’s a testament to the elasticity of our economy, in general, and, specifically, to the productivity of this new-age workforce of ours. The media, of course, had no comment. Literally! Well, I should take that back. I’m sure CNN, the networks, USA Today, and the big city newspapers will go ahead and prominently report that initial jobless claims fell last week, but they did not fall by quite as much as we *stupid* conservative economists were anticipating.
UPDATE: As we all know, one of the more aggressive misinformation campaigns emanating from the left and their complicit national media is the meme that “tax cuts only benefit the rich.” Well, super-discount retailer Costco just reported a huge, double-digit increase in its annual gross sales, along with an even larger, double-digit increase to its net profit.
I think it’s safe to presume that our rich fellow citizens out there — e.g., Theresa Heinz, George Bush, Terry McAuliffe, Dianne Feinstein, Bill Gates, George Soros, etc. — are not standing on line at your local Costco waiting to buy their next bulk set of diapers or toilet paper. So, for you liberals out there, in order to get a reality check, e-mail Paul Krugman and ask this exact question: “Prof. Krugmanoia, if tax cuts only benefit the ‘rich,’ why is dirt-cheap, super-discount Costco reporting double-digit increases to its annual gross sales and net income?” Then, bask in the stone silence, my friends.
Knowledge is power. Parroting DNC talking points because you “hate” George Bush is, on the other hand, the hobglobin of mental atrophy.
Have a nice day.
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