In my next radio show, I will spend some time talking about the US economy.
Today, we got some news on productivity:
"Project director Stephane Garelli said the US's position was supported by the strength of its financial market and the ease with which venture capital for business development could be secured."(US economy tops competitive table )
Productivity is what allows you to compete in a global economy. How do you compete? You compete with more productive US workers!
The next point is tax receipts. Americans are paying huge chunks of taxes because they are making money:
"Federal revenue collections hit an all-time high in April, contributing to a further improvement in the budget deficit for the year." (Revenue Collections Hit Record in April)
How amazing is that? We've been hearing about all of those budget deficits yet:
"The Congressional Budget Office now expects the deficit for all of 2007 to total between $150 billion and $200 billion -- significantly below previous expectations and well below the historical 40 year average (measured as the deficit as a percentage of the GDP). As a reference point, the deficit in 2004 was $413 billion." (Rising Tide Lifts Government's Boat)
What would the media be writing if a Democrat presided over this? They would probably tell us that we are witnessing a historic performance by the US economy.
Indeed, we are witnessing such a historic performance. Of course, no one in the media seems to be watching it.