The Democrats have been talking about how awful the economy is, but the revised 2nd quarter economic numbers released today show the economy grew 3.3% from April - June. An inconvenient truth for the Democrats in Denver who have been celebrating a soft economy that they believed worked to their benefit. From the AP:
The economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home.
The Commerce Department reported Thursday that gross domestic product, or GDP, increased at a 3.3 percent annual rate in the April-June quarter. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate.
Factual economic numbers aside, there will always be some Americans who will struggle no matter how strong the economy and how low the unemployment rate, so we can count on the Democrats to point the spot light on these sorry folk only as long as a Republican is in the White House. However, when a Democrat wins the presidency someday, even if it's not for another generation, you'll be guaranteed that those same struggling Americans will cease to exist, at least as far as our Democrat friends go.
Update: Well isn't this interesting. The very first paragraph I quoted from the linked AP article doesn't exist anymore. In its place are paragraphs with a much more pessimistic tone that fall in line with the Democrats' talking points:
The economy pulled out of a dangerous rough patch in the spring, thanks largely to strong exports, but the rebound isn't expected to last. Economic slowdowns overseas could make exports tail off just as Americans are hunkering down after the bracing impact of rebate checks wanes, plunging the country into another rut later this year.
"There will be heavy sledding for the U.S. economy during the next couple of quarters," predicted Lynn Reaser, chief economist at Bank of America's Investment Strategies Group.
And this is now the third paragraph, which was the second paragraph in the first version. Not a big difference. The same information but with a phrase moved around.
Gross domestic product, or GDP, grew at a 3.3 percent annual rate in the April-June quarter, its fastest pace in nearly a year, the Commerce Department reported Thursday. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate.
So let's review. About 2 1/2 hours ago, I pointed out the AP's original article and noted how this good economic news undermines the Dem's convention message about the economy. Then, shazzam, the article is updated so it is more in line with the Democrats' convention message that the economy sucks and it's Bush and McCain's fault. What else can we expect from the Left's willing accomplices in the mainstream media? Certainly not the truth.