The economy is now growing faster than at any time since Ronald Reagan was President:
Economy grows at fastest pace since 1984
By JEANNINE AVERSA
Associated PressWASHINGTON - The economy grew at a blistering 7.2 percent annual rate in the third quarter in the strongest pace in nearly two decades. Consumers spent with abandon and businesses ramped up investment, compelling new evidence of an economic resurgence.
Too bad the miserable failure that is the Bush economy has already peaked. Consumer spending is falling again, and new jobless claims are rising again.
Posted by: Retrogrouch on October 31, 2003 01:37 PM
That one quarter's annualized growth is high, but it is likely to be an isolated blip. We're still at a net negative on jobs and a dismal growth rate overall.
Chicago-based Challenger, Gray & Christmas Inc. said Tuesday that in October companies announced plans to eliminate 171,874 positions, compared with 76,506 jobs in September. It was the highest monthly level since October 2002, when 176,010 job cuts were announced.
The surge in October ended a streak of five months when job reductions fell below 100,000 per month. The lowest figure during that time was in June, with 59,715 jobs cut.
Some economic growth, that!