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« Blog In, Blog On, Burn Out | Main | The Productivity Boom (That The Media Ignores) » July 8, 2004Bush Boom Economy Headed for Best Year Since ReaganI missed this yesterday, but the economy is rockin' along, headed for perhaps the best GDP growth since the Reagan years. ''We are moving into a sweet spot for the economy with interest rates not too high, jobs coming back and busi- ness investment providing strength,'' said Diane Swonk, chief economist at Bank One in Chicago, who is predicting GDP growth of 4.8% this year.The economy never grew faster than 4.5 percent annually under President Clinton, by the way. I blame the Bush tax cuts. Posted in Economy & Business
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Here is a supplemental report as well which I blogged on yesterday. Yesterday (July 7) was 'cost of government' day, which "is the date of the calendar year on which the average American worker has earned enough gross income to pay off his or her share of spending and regulatory burdens imposed by all levels of government, federal, state and local." The full report is here, and it shows some interesting predictions as well, but make sure to pay particular attention to page 6. Posted by: DocB at July 8, 2004 12:22 PMPost a comment
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