QUITE A TRICK
Paul Krugman tells us that yesterday's GDP growth could be a turning point for the economy -- or not. However, he notes, the growth comes almost entirely from consumer debt. I'm not sure that's so good.
If the growth continues, does it vindicate Bush's policies? Here's Krugman's answer:
To put it more bluntly: it would be quite a trick to run the biggest budget deficit in the history of the planet, and still end a presidential term with fewer jobs than when you started. And despite yesterday's good news, that's a trick President Bush still seems likely to pull off.Indeed.
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