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Friday, October 30, 2009

Commerce Department Reports Signs of Recovery

“The United States has emerged from the longest economic contraction since World War II. The nation’s gross domestic product expanded at an annual rate of 3.5 percent in the quarter that ended in September, matching its average growth rate of the last 80 years, according to the Commerce Department. But government programs to encourage consumer spending on things like cars and houses are expiring, and employers remain reluctant to hire more workers, suggesting the recovery may not last, economists say.” (New York Times, Friday)

Illusions of revival.

FEE Timely Classic
“Economic Recovery” by Brian Summers

  • Sheldon Richman is the former editor of The Freeman and a contributor to The Concise Encyclopedia of Economics. He is the author of Separating School and State: How to Liberate America's Families and thousands of articles.