NCPA - National Center for Policy Analysis


April 26, 2007

The recent wealth-creating run-up in the stock markets is the latest manifestation of the Bush economy's continuing strength and resilience.  But its strong performance was also the result, increasingly so, of the global economy's growth -- from which we benefit as a nation of merchants and exporters selling our goods and services to the world, says Donald Lambro, chief political correspondent for the Washington Times.

Meantime, the story of the global boom is not getting the respect and attention it deserves from a news media that sees only global imbalances, trade deficits, debt and poverty.  Quite the contrary, a worldwide economic revolution is fully under way, and America is its leader and one of its chief beneficiaries, says Lambro:

  • Last year, the American economy grew more than 3 percent (the same as the year before), lifting our gross national product to more than $13 trillion a year.
  • Export sales rose to more than $1.3 trillion and are climbing.
  • Since 2002, we've created 6.7 million net new jobs, according to the government's business payroll survey, and 10 million new jobs, according to the wider household survey that includes the self-employed and small family-run businesses.

The nightly news shows won't report any of this because they think only bad news sells. But they're missing a story of monumental importance about America's central role in the growing wealth of nations that is lifting the global economy to a new level of prosperity that benefits us all, says Lambro.

Source: Donald Lambro, "American resilience fuels global prosperity,", April 26, 2007.


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