Despite the Media, Economy Chugging Along Nicely at 3.9%

The federal government's Bureau of Economics (BEA) released the initial numbers for the Gross Domestic Product for the third quarter of 2007: 3.9%. That's a pretty good rate, and flies in the face of much of the public believing the bad news put out by the Democrat-leaning media that the economy is either in, or soon to be in, a recession. They also released revised figures for the second quarter of 2007 showing an increase in GDP of 3.8%. And, if you look at the actual market value of the United State's economic output without various adjustments, the picture looks even better:

Current-dollar GDP -- the market value of the nation's output of goods and services -- increased 4.7 percent, or $157.9 billion, in the third quarter to a level of $13,926.7 billion.  In the second quarter, current-dollar GDP increased 6.6 percent, or $216.9 billion.

That's a pretty strong economy, even with the sub-prime adjustment that we're going through. I wonder if President Bush will get credit?