Thursday, May 25, 2006

Like I was saying...

Things are going pretty well with America's economy:
It's a steady economy.

Economic pundits keep telling us about the impending slowdown. Well, they've been waiting for a slowdown for years. Actually, I've heard about this slowdown for 25 years, ever since Reagan restructured and revived American capitalism through low tax rates, deregulation, and disinflation.

The reality is about 3.5 percent growth since the early 1980's with very few interruptions. Total employment and wealth creation have soared during this entire span of time.

There's a lesson here: Tax incentives matter. Price stability matters. Markets are smarter than central planners.

Yes, those things matter. Much like Republican majorities in the Senate :)

(HT: Instapundit-even though he has a little less grace for Congress...)