October 31, 2002

More new math

According to this story, the economy grew at 3.1% in the third quarter, pushed by strong consumer spending. This is good news, right?
Not according to this story. The bulk of the column continues to ptell how bad things are, and that they are going to get worse. Let's see, unemployment is around 6%, and the economy is growing at about 2%. Yep, times sure are tough!
The article also brings up this piece of garbage:

Democrats, however, point to the tax cut as a key reason why the federal government posted a $159 billion deficit in the 2002 fiscal year, ending four straight years of surpluses.

The war on terror and Sept 11 had absolutely nothing to do with that, right?
Another quick question: If we had four years of surpluses, how come the National debt kept going up? Does Arthur Andersen do the government's accounting?

Posted by Rich at October 31, 2002 12:26 PM