June 29, 2005
1st Qtr GDP up 3.8%
Whenever you read through any web site on the Left side of the aisle, one of the constant complaints is "how bad the economy is" and lament the High Times of the Clinton administration. They forget that by the second year of the second Clinton administration, there was growing evidence of a quickly looming recession.
Well, despite all their doom and gloom, the economy is actually doing quite well, thank you. The 1st Q report is in, and the growth rate of the GDP came in at 3.8%... .1% better than projections, and the third quarter in a row where growth was 3.8% or HIGHER. It's true that the deficits we're running are a matter of concern too, but if you look into it, you'll note that base revenues coming IN to the government are higher than ever. The Left tries to put the blame on these deficits on the WoT in Iraq and Afghanistan, but there again, gross costs are deceiving; the total costs of military expenditures in the last two years represent only 6 DAYS worth of the total tax revenue coming in to government in the same time period.
And for those that say "thats all well and good, but what about the lack of employment for the "little guy"?" Well cast your eyes on the chart below and tell me that growrh in the GDP doesn't translate into a better situation as far as employment goes. Read this as well to get a little better perspective.
As it ever has been, the problem is NOT that we're not paying enough taxes, it's that the government continues to raise their spending far above any increases in revenue. The Republicans are as guilty of this profligate spending as the Democrats are, although the largest expenditure requests are coming from the Left side of the aisle, no matter, in the end, ten small projects cost as much as one large one. in terms of the total outlays, so the blame is more than enough to paint both sides of the aisle.
WE THE PEOPLE need to start becoming more informed as to just what the govt. is spending revenues on, and start holding our representatives accountable for it.