Wednesday, July 13, 2005

More damage to the economy like this, please

Instapundit has some interesting items re: the economy. Read about it here, but the crux of the situation is this:

  • The trade gap has narrowed to $55.3 billion, showing US exports have risen significantly.

  • The deficit has been reduced by $76 billion for the same 9-month period over last year, a very significant drop.

  • Tax revenues for this year are up from 2004 by 15% with corporate tax revenues running 40% higher than last year.

  • Most of the increase in individual tax revenues have come from higher stock market gains and business income of more wealthy citizens.

I'd also like to note that unemployment figures for June 2005 show that the current rate has dropped to an even 5% nationally, the lowest unemployment rate in years.