Who Is He Calling "Stupid?"
* Real GDP increased 3.5% in 2005
*The economy has been growing for 17 straight quarters, and the composite index of leading indicators has risen the past 6 months, indicating continued growth
*The Conference Board Index of Consumer Confidence rose to 107.2 in March - The highest level in nearly four years
*Inflation remains contained. The core Consumer Price Index (CPI) rose just 0.1% in February. Core CPI has increased a moderate 2.1% over the past 12 months, indicating core inflation remains contained
*Over the past year, Employment has increased in 48 states
In March, the economy Added 211,000 Jobs
The unemployment Rate is at a 4 1/2 Year Low, below 5%, which is considered well at full employment by many--if not most-- economists
America has the most productive workers of any major economy in the world
*Real Disposable Incomes have risen 2.2 % over the past 12 months
*Since January 2001, real after-tax income per person has risen 8.3%.
*Real household net worth is at an all-time high of $52.1 trillion
*The median net worth of American households rose 1.5 % between 2001 and 2004
*Real consumer spending has increased 3.2 % over the past year
*Nominal retail sales are up 6.7 % over the past 12 months
*College graduates face the best job market in five Years
*Manufacturing expansion continues: The Institute for Supply Management (ISM), a private research group, reports manufacturing activity grew for the 34th consecutive month in March, and its reading of 55.2 indicates continued sector expansion
*According to the Federal Reserve, over the past 12 months total industrial production rose 3.3 %, including a 0.7 % increase in February, and manufacturing industrial production rose 4.2 %
*New orders for durable goods surpassed expectations and rose 2.6% in February
*Construction spending is at an all-time high, rising 0.8 % in February to reach a seasonally adjusted annual rate of $1.185 trillion
*Service sector grows: The ISM reports non-manufacturing business activity grew for the 36th consecutive month in March. The ISM's business activity index reading of 60.5 indicates continued sector growth
*Productivity growth continues: During the past four quarters, productivity has increased 2.5 %. Productivity has grown at a 3.4 % annual rate since the business-cycle peak in the first quarter of 2001
In the past five years, the President's tax relief kept $880 Billion in the American people's hands.
Those are the facts.
Have a nice day.