The economy is doing just fine, both parties have to lie to you for political reasons

[Arne]

The Economy Is Sound
By R. Emmett Tyrrell, Jr.
Published 9/11/2008 12:08:27 AM

WASHINGTON -- The campaigning politicians apparently cannot talk accurately about the economy. As I am not campaigning for anything, let me try to describe the economy as it is. The Democrats cannot talk accurately because if they did the average American would realize that the economy under President George W. Bush has not been so bad. Furthermore, the Democrats have not a clue as to how to improve it. All they would do with their promised tax increases and other extensions of the federal bludgeon onto the market would be to slow down an economy that is actually growing.

Did I say growing? Yes I did, but the Republicans cannot talk about the growing economy because if they did it would sound as though they had no compassion for those who are not doing particularly well in this economy. This is a rhetorical trick that the Democrats have imposed on the Republicans. So effective has it been in cowing the Republicans that quite possibly never again will a sitting president be able to boast of a record of economic achievement. To do so would be to ignore the less well off, even though there will always be less well off. For that matter, in every economy no matter how robust, there will be citizens in difficulty.

Nonetheless, someone ought to note the economic health of the present economy. Let me give it a try.

Yes, with gasoline pushing $4 a gallon and fuel oil at historic highs as we face the winter, there is reason to be apprehensive. Moreover, there are widespread declines in home prices. Financial institutions are failing. The equity market is down. And inflation is inching up. Yet that does not warrant describing this economy as being in "Depression," as Joe Stiglitz, the Clintonista, has said it is. Nor is it even in recession, as the Prophet Obama and his amiable sidekick, Senator Joe Biden, believe it to be.

In point of fact, we are living through the third longest peacetime expansion since 1857, which is about as far back as such calculations have been made. The growth continues. Last quarter's growth has now been revised upwards from just under 2% to a healthy 3.3%. Milton Friedman calculated that that real GDP grew at 3.25% since World War II, about the same as it has grown from the middle of the 19th century.

At the present the economy's growth is relatively healthy and its prospects are good. Sure catastrophe could strike, but it will have to be one whale of a catastrophe, say a big taxer in the White House surrounded by people with Saul Alinsky's vision of economics, which was socialism -- assuming that the old radical had any economic vision at all. Alinsky was the community organizer who inspired the Prophet. Incidentally, there is no evidence that Obama has had any managerial experience. Nor has he managed budgets of any size. Senator John McCain managed the largest air squadron in the Navy with a budget of over $1 billion. Governor Sarah Palin managed a small town and the state of Alaska.

So the economy is doing pretty well, though more can be expected and it is understandable that the citizenry does expect more. Since the beginning of the Reagan economic comeback, we have all lived through a period of unparalleled economic stability and vigor. If the Bush Administration was the third longest period of growth since 1857, the two longer periods were experienced in our lifetimes, in the Clinton Administration (120 months) and the Reagan Administration (92 months). It is natural that contemporary Americans expect more from their economy.

To expect it from the Prophet Obama, however, is a leap in faith and an investment in futility.


R. Emmett Tyrrell, Jr. is the founder and editor in chief of The American Spectator, a contributing editor to the New York Sun, and an adjunct scholar at the Hudson Institute.

http://spectator.org/dsp_article.asp?art_id=13863

[92bDad]

Nice to know that this election is about the Economy and that this administration has done a better job than is being reported or spun by the Liberal-Democrat media.

I hope this information becomes mainstream internet craze...the media needs to see the real story, rather than force feeding how bad life is in America.

Should we expect anything less? We here and read about all the bad in Iraq, but as we are succeeding and winning in Iraq, the press seems to want to ignore it...now we here that our Economy is doing well...yet, I am certain we will not see this information as a highlight in the media.

And as the article states, if the candidates speak to this, then the press will spin it in a direction that ridicules the Republican party.

Bottom line...at the end of the day, I believe that the McCain/Palin ticket is better for America, especially in terms of Economy!!!

[mcsluggo]

R. Emmett....

some people are simply so stupid that they shouldn't be allowed around a pencil.

to claim this is a good economy beacue it didn't actually break the 0% floor... and it has a long time series is just pure simple booger eating moronitude.

What the f does that have to do with the current state of the economy? -- this 100 year old man with pneumonia and cancer is MUCH healthier than that 30 year old marathon runner, obviously. his heart has beat almost 840 extra months to prove it.

I have never heard of this man before. But he is, plain and simple, an idiot.

[mcsluggo]

i was too hasty. perhaps R. Emmett is not idiot. perhaps he just assumes that the rest of us all are.

[dalmations202]

Originally Posted by mcsluggo

i was too hasty. perhaps R. Emmett is not idiot. perhaps he just assumes that the rest of us all are.

Why are you so sure that we aren't?

[92bDad]

Let's see...My take home is more today than it was 8 years ago. I actually have a nest egg building...beit small, I didn't have one 8 years ago...I have a house in my name, 8 years ago I was renting...I own 4 cars of which 3 are paid for...I only had 1 car 8 years ago...I have medical insurance...8 years ago I had no insurance.

In addition, last year and this year, I have donated more money to my Church and Charity than at any other time in my life...getting close to my goal of donating 10% as a tithe.

Sure, I spend more money today on food, gas and basic essentials, but I have more to spend...and I chose to spend on unessential things that are wants for my wife and kids.

I'm not involved in oil or affiliated to any business tied to Bush or other politicians that I know of.

I do recall that under Clinton, I qualified for the Earned Income Credit...and I worked my way out of that under the Bush administration.

So if we base things on our own personal economy, I am better off today after 8 years of Bush than I was 8 years ago after 8 years of Clinton.

Perhaps that is why I have -0- desire to see Obama or any Democrat in office...my life experience tells me that I will have less under a Democrat than I will a Republican. Even if it was me who worked my way through business to be where I am today...I see an economy filled with opportunities and I believe that McCain/Palin will keep those opportunities open and take less of my or your money as we succeed in this new economy.

I know we here these % of folks who are struggling, without a job, without a home, or unable to pay mortgage payments...I would like to know how many are on the other side of the coin?

I have compassion for those in need and I work through my Church to provide for those in need. However I wouldn't vote for someone who plays on the needy in order to guilt me into voting for them.

With a 6% unemployment, that tells me we have a 94% employment rate...that's pretty strong!!! So that 94% if they pull together they can find ways to help the 6% without ever needing the Government to step in.

How many of that 94% are actually doing better today than 8 years ago...I suspect that the majority are.

Yet, we keep getting guilted about those in need. We keep hearing and seeing stories about how bad things are in America...the reality is that this is only a small portion of America...and honestly, is the government the best resource for reaching the needy?

What about local communities, private individuals, churches? These are the ones with the greatest resources and lowest red-tape to help people in need.

The resposibility is ours as citizens to reach out...let's not shurk our responsibility and wait on the government...that is not the governments job.

I believe that the Democrats want us to believe that the Government is the main source of welfare and that they are needed to help make things better...they want us to depend on them...but in reality, we do NOT need them. We are quite capable of taking of ourselves and one another without them.

I see the government as a place to settle disputes and to defend the nation against enemies foreign or domestic.

The economy is up to the people and free market.

As such...we all know where I stand and how I'm voting...but again, the economy is doing better than some like to represent it as...thus leaving the power in the hands of the people is vital.

[mary]

It's awesome to write an entire article about the "state of the economy" and never even mention the words "employment" or "unemployment".

Typing stuff is fun.

[alexamenos]

I kind of have to agree with mcsluggo's 'booger eating moron' sentiment.

I mean...."Republicans can't brag on the state of the economy because they fear the Dems' rhetorical response"???? Yeah, no, I tend to think they fear the "are you kidding me?" response from several million people who know better.

And "inflation is inching up"???? how about footing or yarding or miling upwards......

I mean....I don't mean to be whiney about the state of the economy, but over the last several years I've seen my pay check grow by a fair amount comensurate with increases in my job experiences and titles, but at the same time....I've seen this growing pay check buying less and less -- that is, I make more money today then I did four or five years ago, but my standard of living has not increased one iota, nor do I expect it to any time soon.

this is a stagflationary economy, where inflation is being under-measured by the bls (which causes GDP to be overstated, hence statistically hiding some of the softness in the economy)....the actions of the government are to stag it and flation it more....

[Arne]

How in the world could 92bDad fall for this one... i'm a little drunk right now, but it's cracking me up... Muahaha

[Kirobaito]

I think we also have to understand that the economy is doing okay in Texas, in fact substantially better in Texas than it is in most other places in the US. I have friends in the Rust Belt whose parents simply cannot find jobs anywhere.

[chumdawg]

You don't write an intellectually sound article and include the words "Prophet Obama."

You just don't.