With a higher-than-expected 3.3 percent growth rate in the second
quarter, Phil Gramm seems to be vindicated that the recession is
mental -- the economy is not contracting. One interesting thing to
note is that a weaker dollar boosted exports, which helped spur
growth. That's just basic classical economics.
Clearly, the economy isn't out of the woods yet, and this
doesn't wipe away American's anxiety, particularly because we can't
count on the media to report good news with the same ferocity with
which they report bad news. But the harder it is for Democrats to
make the argument that the economy is in shambles, the better the
chances are for John McCain -- especially because Obama lags on the
comander in chief question.
topics:
John McCain, Economics
