Word: gdp
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...that was a day or two old and spin it from good to bad. No amount of psychotherapy would break them of the habit of changing their minds so quickly. Fickleness ruined the impression that the financial world was getting better and that by the end of the year GDP would be rising again...
...Revisionists also ignore the success of the 2001 and 2003 tax cuts: After their implementation, GDP grew uninterrupted for five years at an average rate of 4.1 percent, businesses created five million new jobs, and lower top marginal rates created incentives for unforeseen innovation. In fact, without the Bush tax cuts the economic downturn might have been harder on the poor. His plan increased the child tax credit and reduced rates for lower-middle-class families. The only substantive critique leveled by revisionists at the Bush tax cuts is that they widened budget deficits. But, if deficits caused the recession...
...other countries and would have implemented others with nations like Colombia had congressional Democrats let him. Expansions of free trade offer a potential first step to economic recovery: After all, in the beginning throes of the crisis in 2007, it was double-digit annualized export growth that kept GDP growing despite lagging consumption and investment...
...Nikkei Brazilians, Peruvians and others who have lost their jobs go home, what will Japan do? Last week, Prime Minister Taro Aso unveiled a long-term growth strategy to create millions of jobs and add $1.2 trillion to GDP by 2020. But the discussion of immigration reform is notoriously absent in Japan, and reaching a sensible policy for foreign workers has hardly got under way. Encouraging those foreigners who would actually like to stay in Japan to leave seems a funny place to start...
...chance that China's GDP growth will pick up as the year goes on, it is because consumer consumption within the country has not fallen apart. But, one of the issues that the government mentioned as a hurdle to growth was labor unrest and unemployment. Growing joblessness is almost certain to undercut the ability of the middle class to pull China out of its slowdown...