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Economists Upgrade US Outlook After Surprisingly Strong Data – Breitbart.com
(h/t – Instapundit)
“Economists are hastily upgrading their forecasts for the US economy after a series of surprisingly strong reports suggesting the so-called ‘soft landing’ may be over and growth is accelerating. Over the past week, surprises have come in stronger-than-expected reports on US job creation, the trade balance and retail sales — all key contributors to economic activity. . . . The latest data showed US employers added a healthy 167,000 new jobs in December, with unemployment holding at a low 4.5 percent. Average wages were up 4.2 percent annually.”
Recall if you will that beginning in Q4 2000, the US economy fell into the Clinton Recession begun by the Dot.Com Bubble Burst.
Then al-Qaeda launched the Sept. 11, 2001 attacks which were, according to bin Laden, designed to not only kill thousands but to bring the US economy to its knees.
It worked for while. The Twin Towers attacks alone resulted in $83 BILLION of losses. More than 1 million jobs were lost in the three months after the attacks.
But, just as President Bush asked of us after the attacks…. American’s fought back to rebuild our shattered economy.
In the face of this great tragedy, Americans are refusing to give terrorists the power. Our people have responded with courage and compassion, calm and reason, resolve and fierce determination.
We have refused to live in a state of panic or a state of denial. There is a difference between being alert and being intimidated, and this great nation will never be intimidated.
People are going about their daily lives, working and shopping and playing, worshipping at churches and synagogues and mosques, going to movies and to baseball games.
Life in America is going forward, and as the fourth grader who wrote me knew, that is the ultimate repudiation of terrorism.
In fact, the Bush Recovery was underway just one year later.
And now, we are entering Year Five of the Bush Economic Recovery. So, everyone say it with me together in a loud, maniacal, shrieking voice: “It… Is… Bush’s… Fault!”