December 1, 2003
A Nov. 26 front-page headline states: "Economy Expands at Fastest Clip Since 1984" and the subheadline reads, in part, "GDP growth is revised up to 8.2%, thanks to business spending." "Oh boy!" the people say. "Let's vote for Bush." But think about it: The gross domestic product is up -- way up -- because it includes the $100 million a day the military-industrial complex is blowing on Iraq and elsewhere. Oh, by the way, the subheadline concludes with: "But hiring remains weak." Don Kurtz Simi Valley
September 27, 2003 |
The U.S. economy grew at a faster pace than previously estimated during the second quarter, with expenditures by consumers and government driving much of the increase, a government report said Friday. However, consumer sentiment in September was weaker than previously reported, dropping for the second month in a row, according to a widely watched survey by the University of Michigan.
September 15, 2003 |
Vice President Dick Cheney said Sunday that the United States had "turned the corner" to economic recovery and he expected gross domestic product growth next year of 4% or better. On NBC's "Meet the Press" program, Cheney also said the administration expected to cut the federal deficit "roughly in half" from next year's level in the coming five years. "Going into next year, we anticipate ... growth on the order of 4% or better in GDP," Cheney said.
August 12, 2003 |
Japan's economy expanded for the sixth straight quarter, growing 0.6% in the three months through June, but analysts warned against too much optimism about the weak recovery gaining more momentum.
March 1, 2003 |
The nation's economy grew at a 1.4% annual rate in the final three months of last year as businesses replenished inventories and consumer purchases were higher than previously thought, the Commerce Department said Friday. The fourth-quarter growth was twice the pace that the department estimated last month and showed that the economy was not as weak as the original 0.7% estimate suggested. But analysts were hardly rushing to raise their forecasts for this year.
January 31, 2003 |
The American economy grew at a mere 0.7% pace last fall, the Commerce Department said Thursday, as consumers slowed their spending amid renewed fears over job security, stock declines and the prospect of war with Iraq. The economy's weak performance from October to December brought to 2.4% the growth rate for 2002, according to Commerce. That's an improvement on 2001's 0.3% growth rate but nothing like the snapback that some economists had been forecasting.
August 1, 2002 |
New measures released Wednesday show that the nation's economic recovery--which seemed so dazzling in the immediate aftermath of last year's terror attacks--is stumbling. The gross domestic product, which measures the economy's total output of goods and services, grew at only a 1.1% annual rate in the spring, according to new figures from the Commerce Department. That was less than half what had been expected and substantially less than the 5% pace of earlier this year.
July 14, 2002 |
In a world trying to deal with terrorism, catastrophic illness, starvation, drought and nuclear war prevention, old age doesn't seem terribly threatening. But during the next three decades, simultaneous aging crises in Europe, Japan and North America have posed a serious threat to global stability, with everything from the investment returns on 401(k) plans to peace and prosperity in the Third World at risk. We can avert this mega-crisis, but the problem is worse than governments acknowledge, and time is fast running out. A recent study by the Center for Strategic and International Studies (CSIS)
May 25, 2002 |
The U.S. economy bolted ahead at its fastest pace in nearly two years in the first quarter, but the rise was not quite as rapid as initially thought, the government said Friday in a report that showed weaker consumer and business spending than first estimated. Gross domestic product, a measure of the goods and services produced within U.S. borders, raced forward at a revised 5.6% annual rate in the first three months of the year, the Commerce Department said.
May 1, 2002
"U.S. Economy Surges 5.8% in First Quarter" (April 27) asks, "Is business finally taking the load off consumers, whose spending has kept the economy afloat in the last year, and resuming the kind of fast-paced investment that fueled much of the late-1990s boom? "We still don't know whether the baton has been passed from consumers to business," one influential economist said. Reading that, one might believe that there have been periods when our economy has shifted from being "demand-sided" to "supply-sided.