Spoiling the Spoilsport

I hate to do it, but I must be a spoilsport to the spoilsports. I'm afraid we are now in an economic recovery. What's worse, it will become apparent to the general public as we approach the 2010 elections. The message to Republicans: Don't gloat. Rather, gird your loins.You can look at economic indicator after indicator, and the conclusion is apparent: The worst is behind us (at least for now). Real GDP, industrial production, and exports and imports all bottomed out several months ago, in June 2009.Even jobs have bottomed out. The "establishment survey" showed that December and February were the low months of the Great Recession. March saw 162,000 jobs added. That cannot all be attributed to government jobs, either. Private industry added jobs in each month of 2010 and now employs 147,000 more than it did in December. The "household survey" shows even bigger job growth since bottoming out in December: 1,113,000.Unemployment is considered a lagging indicator, but...(Read Full Article)

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