The Bush administration is touting its record on the Economy. The nature of the success has to be examined for an accurate view. The Economy likens unto the Shopping Mall which was worth $6 bn doing great business, because it has just had a Facelift costing $2 bn. The worth of the Mall is still only $6 bn, and Rents must be approx. 25% higher, but Business is great; great at least until the next necessary Facelift.
How many hundreds of billions did the Bush Tax Cuts give away to get a anemic performance inferior even to the Reagan recovery? When dealing with economic performance One has to understand where it has come from, what it is doing now, and the options open to the Economy for future economic performance. The current economic picture is dismal:
Government spending--Federal, State, and Local--is easily expanding at twice the rate of Inflation; something which is double the real rate of growth.
Government debt--Federal, State, and Local--is expanding more rapidly than even Government spending.
U.S. Exports are stagnant, while foreign Imports are still increasing rapidly. We are currently not only borrowing everything from Overseas, but We are actually putting Few back to work.
This is Our vibrant Economy. lgl