Friday, November 02, 2007

The Economic Update

Beware of Democrats in November of 2008. Besides the attacks on the justified war in Iraq, the Communist Democrats will use ridiculous arguments to push universal health care, closing the income tax "loop holes" used by the rich, and improving our "disastrous" economy.

Even with the busted housing bubble, America's economy has never been better. Here are a couple of clips I received in my daily tax news update.

Americans' personal income increased $47.4 billion in September, according to figures released by the Commerce Department's Bureau of Economic Analysis on November 1, 2007. Revised figures for August show an increase of $52.8 billion. Personal outlays in September increased $33.0 billion, after an increase of $54.3 billion in August. Personal consumption expenditures increased $30.1 billion in September, compared with an August increase of $51.4 billion. Personal saving was $89.7 billion in September, compared with $82.1 billion in August.

Real gross domestic product (GDP) increased at an annual rate of 3.9 percent in the third quarter of 2007, according to advance estimates released by the Commerce Department's Bureau of Economic Analysis on October 31, 2007. In the second quarter, real GDP increased 3.8 percent. Real gross domestic purchases, or purchases by U.S. residents of goods and services wherever produced, increased 2.8 percent in the third quarter, compared with an increase of 2.4 percent in the second quarter. The major contributors to the increase in real GDP in the third quarter were: personal consumption expenditures (PCE), exports, federal government spending, equipment and software, nonresidential structures, private inventory investment and state and local government spending.

1 comment:

Patrick said...

Part of Giuliani's stump speech right now is a "recurring dream" he says he's having: In it, Nikolas Sarkozy is on an airplane above the Atlantic Ocean, flying from France to the United States. His plane is suddenly almost hit head on by an oncoming plane flying in the opposite direction (from the United States to France).

The oncoming plane flies by so closely that Sarkozy can look out his window and see the faces inside the other plane. He waves at them and sees Hillary Clinton, Barack Obama, and John Edwards.

Sarkozy, it turns out, was traveling to the United States to get some ideas on how to reform France. He wanted to understand the ideas behind what has made America so wealthy and prosperous (low taxes, less regulation, sound money, etc.) so he could implement them in France.

On the other hand, Clinton, Obama, and Edwards were flying to France to try and understand all of the terrible ideas that have crippled its economy so they could turn around and implement them in the United States.