The latest report on US GDP growth showed an impressive 4.1% growth in GDP and strong growth in individual sectors of the economy.
* Consumer spending grew at 3.2%, well above the expected growth rate of 2.7%
* Business spending grew at 10.9%, well above the estimated 9.6% rate of growth for the fourth quarter
* Spending on durable goods grew at a rate of 0.7%, beating the expected contraction of 0.2%
All of this is thanks to a pro-growth policy that has ensured that businesses have the resources they need to expand and grow. If the economic growth rate stays around 2.4% it is expected that the economy will grow 2 million new jobs – and given the current rate of growth, that’s very possible. Of course, without the economic stimulus of the Bush tax cuts, our economy would likely be in recession, which is why making those cuts permanent is critical to the economic health of the country.
