Addressing the press, President George W. Bush stands with Ed Lazear of the Council of Economic Advisors, left, and Al Hubbard of the National Economic Council, in the Rose Garden Friday, April 28, 2006. "I'm joined with my two top White House economic advisors. The reason why is because we've had some very positive economic news today: the Commerce Department announced that our economy grew at an impressive 4.8 percent annual rate in the first quarter of this year. That's the fastest rate since 2003," said President Bush. "This rapid growth is another sign that our economy is on a fast track." White House photo by Eric Draper The good news comes on the heels of two other important economic indicators reported earlier this week: new home sales surged forward by nearly 14 percent last month; consumer confidence reached its highest level since May of 2002. This confidence is largely driven by the many jobs being created in our country -- 5.1 million since August of 2003."
-President George W. Bush 4/28/06
I thought I'd bring the good news in our President's own words first. I'm gonna rattle off some stats from government entities and other organizations just to show you how good our economy actually is. (Courtesy of the GOP)-In The Past Year, The Number Of First-Time Jobless Claims Has Fallen 6.5% While The Number Of Continuing Claims Is Down 8%.
("Initial Jobless Claims Rise 11,000 To 315,000," MarketWatch, 4/27/06)-Business Investment Increased 14.3%, The Fastest Pace In 6 Years, While Consumer Spending Grew 5.5%, The Fastest Pace In 3 Years.
("U.S. GDP Rises 4.8% In First Quarter," MarketWatch, 4/28/06)-The Economy Has Grown For 18 Straight Quarters.
(Bureau Of Economic Analysis, www.bea.gov, Accessed 4/28/06)-The Number Of Hispanic-Owned Businesses Increased 31%, Three Times The National Rate.
("Black-Owned Businesses Grow At Four Times The National Rate For All Businesses," The Associated Press, 4/18/06)-Jobs Were Created In 48 States Between Mar. 2005 And Mar. 2006, While Jobless Rates Were Down In 43 States.
(Bureau Of Labor Statistics, Press Release, 4/21/06)-State And Local Government Borrowing Is Down 29% In The First 3 Months Of 2006 From Last Year, The First Time In 4 Years Borrowing Has Fallen.
("States' New Debt Down For First Time Since '02," USA Today, 4/18/06)-State And Local Tax Receipts Increased 10.2% In 2005.
("States' New Debt Down For First Time Since '02," USA Today, 4/18/06)-The Conference Board's Index Of Consumer Confidence Increased 2.1 Points To 109.6 In April.
("U.S. Confidence Hits 4-Yr High In April," MarketWatch, 4/25/06)-The Index Was At The Highest Level Since May 2002.
("U.S. April Consumer Confidence Unexpectedly Rises," Bloomberg, 4/25/06)-Sales Of New Homes Increased 13.8% In March To The Highest Level This Year.
("Stunning 13.8% Increase In New Home Sales," MarketWatch, 4/26/06)-Orders For Durable Goods Increased 6.1% In March, The Best Increase Since May 2005 And Far Exceeding Expectations.
("Durable Goods Orders Soar 6.1% In March," MarketWatch, 4/26/06)
Face it liberals, we have a fantastic economy, despite high energy prices and natural disasters and war, we are expanding, and that truly shows the strength of the U.S. economy. Thank you President Bush for the tax cuts, keep pushing to make them permanent.
Once again, President Bush is demonstrating his strong leadership ability. This stimulus package is just the type of measure this economy needs to get back on track. Just upon hearing about it the markets have reacted wildly in response. Imagine how it'll be when it's enacted."
(Horace Cooper, Centre for New Black Leadership)Bush Economy Quotes"Economy Talk"