GDP Grew at a 4.8% Annualized Rate in the 1st Quarter
The Bureau of Economic Analysis released its "advance estimate" of growth in the inflation-adjusted ("real") gross domestic product (GDP) for the 1st quarter of 2006.
(Available at http://www.bea.gov/bea/newsrelarchive/2006/gdp106a.pdf).
Annualized GDP growth in the 1st quarter was estimated at a rapid 4.8% rate; growth was 1.7% in the 4th quarter of last year.
You don't say, and what about Iraq?
After meeting Mr Rumsfeld, General George Casey, the US commander in Iraq, said the new government was a major step towards creating the conditions that could allow withdrawal. "I'm still on my general timeline," he said.
The US hopes to reduce its 132,500 troops in Iraq to about 100,000 by the end of the year, and, in the best-case scenario, to 75,000. Britain hopes to reduce its force from 7,500 to about 5,000 by the end of the year.
So where is all my doom and gloom, where are my Eeyore's crying "We're doomed Christopher Robin", where are my Quagmirers, my defeat-mongers, how come things don't suck nearly as much as some folks seem to want? I don't know, but I don't care either at this point. Times ain't grand right now and never can really be, with troops in combat, but it sure isn't the hell on earth portrayed in media.
The war reporting has never been anything but excremental, but I don't see how they can ignore the economic news. Greed crosses all party lines, and times are looking good.