The Commerce Department reported that the U.S. economy grew at a 5% annual rate in the third quarter ending September 30. The stock market hit an all time high closing above 18,000. It has been pointed out many times in PolitiDose that the good economic news would happen on the watch of President Obama because democratic administrations always perform better for the country and its people. It is a precedent that has held true for many, many years especially since Ronald Reagan took office because that is when the republican party started its "blame big government" for everything ideology.
The Commerce Department also reported: Strong consumer spending and business investment: That the quartly growth was the fastest growth since the summer of 2003. (Thats 13 years ago) Income posted the best gains in five months; November consumer spending grew at its fastest pace in 3 months. We also know from other reports that U.S. economic out put is at an all time high and so are corporate profits.
The good economic news should be followed up by President Obama with policies and or executive action that will continue the economic expansion, job creation and increase in wages for the average workers. The republican party continues to sit on the side lines and play no role in correcting the mistakes of the previous republican administration that presided over the second great republican depression. In fact the ending of this year will mark their 6th straight year of opposing the President's policies that have worked for the country and its people.
We will know soon enough if the new congress, controlled by the republican party has the courage or character to stand up and join the human race.
This commentary written by John Lucia.
