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Economy Grows at Fastest Pace in 1 1/2 Years
WASHINGTON - The U.S. economy turned in a remarkably strong performance in the summer despite surging energy prices and the battering the Gulf Coast states took from hurricanes, although business growth was slightly lower than the government previously estimated. The Commerce Department reported Wednesday that the gross domestic product, the nation's total output of goods and services, rose at an annual rate of 4.1 percent in the July-September quarter. It was the fastest pace of growth in 1 1/2 years.
... The increase in third quarter growth came despite the fact that the country was hit by Katrina, the most expensive natural disaster in U.S. history, and by Rita.
See also these previous posts:
The Tax Cuts Worked-Economic Expansion: Year Five
The Bush Tax Cuts Have Resulted in Higher Tax Revenue
Lower Taxes Make the Economy Stronger
Lower Tax Rates Are Resulting In Higher Tax Revenue
A Myth Debunked: Bush Tax Cuts Did Not Favor the Rich
Tax Cuts Work: Government Forecasting Incorrectly Thought Tax Costs Would Reduce Tax Revenue
