Portrait Of The Economy

From Brian Wesbury:

"It's the best of times. It's the scariest of times. Last year, U.S. exports, industrial production, real hourly compensation, corporate profits, federal tax revenues, retail sales, GDP, productivity, the number of people with jobs, the number of students in college, airline passenger traffic and the Dow Jones Industrial Average all hit record levels. For the third consecutive year, global growth was strong, continuing to lift (and hold) millions of people out of poverty. From 30,000 feet, heck from 1,000 feet, it sure looks like the best of times."

"Free-market capitalism is not perfect. But it remains the single most efficient
and powerful system for creating wealth, reducing poverty and
developing less wasteful ways of organizing output and consuming
resources. With the U.S. seemingly at a political turning point, the next few years are
very important. At a similar juncture in 1929, and again in 1965, the U.S.
moved toward bigger government. After World War II, and again in the
early 1980s, Washington chose less intrusive government. The results speak for themselves.
Good times or scary times: It’s our choice."

Read the whole article here.