Contributors

Friday, January 31, 2014

Economy Gearing Up

From the Wall Street Journal...

A potent mix of rising exports, consumer spending and business investment helped the U.S. economy end the year on solid footing. Gross domestic product, the broadest measure of goods and services churned out by the economy, grew at a seasonally adjusted annual rate of 3.2% in the fourth quarter, the Commerce Department said. That was less than the third quarter's 4.1% pace, but overall the final six months of the year delivered the strongest second half since 2003, when the economy was thriving.

Many economists see the U.S. economy moving into a higher gear. Federal Reserve officials, in further pulling back on a bond-buying program meant to spur growth, noted this week that the economy has shown "growing underlying strength." Consumer confidence is rising, and manufacturers are getting busier to meet increased demand. A big driver of growth in the fourth quarter was a rise in consumer spending, which grew 3.3%, the fastest pace in three years. Consumer spending accounts for roughly two-thirds of economic activity.

Really great news.

Take a look at this graphical representation of the Obama years.  Note the downward trend of government investment (i.e. spending).

Considering this is the Wall Street Journal, will anyone believe the BS being peddled by the Right about how awful the president is for the economy and how he is a big government spender? 

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