The Economy is doing Awesome! So where's all the Press?

Today, Lawrence Kudlow continues to make the only discussion on the American economy.

From the 1/24/07 New York Sun:

The fact is, jobs continue to boom. So do real incomes, productivity, and profits. Economist Michael Darda points out that real wages over the first five years of the Bush expansion are actually growing more rapidly than over the first five years of the Papa Bush/Bill Clinton boom.

Meanwhile, unemployment today is only 4.5%. Federal, state, and local tax collections are soaring through the roof. Budget deficits are plunging. Inflation-adjusted gross domestic product is averaging just more than 3%. Family wealth stands at a record of slightly more than $54 trillion. Total employment is at a record 146 million.

read more.

Not for nothing, but Republicans and the entire Republican Party should be pointing this out. Americans should look at the roles of government this way: 1) The Federal Government cannot come up with a universal solution for job creation and reducing poverty. What the Federal Government can do is offer insentives for economic growth, like tax cuts, 2) since every city and every state has different economic needs, fighting poverty, reducing welfare and creating jobs needs to be done on a city and state basis. The Federal Government cannot solve all problems, but it certainly can make it easier by cutting taxes so the city and states can focus on their local problems.

by Daniel Peterson, Wednesday, Jan. 24 | Permalink