Great economic news

Economy Grows at Fastest Pace Since 1984

The economy grew at a blistering 7.2 percent annual rate in the third quarter in the strongest pace in nearly two decades. Consumers spent with abandon and businesses ramped up investment, compelling new evidence of an economic resurgence.

The increase in gross domestic product, the broadest measure of the economy's performance, in the July-September quarter was more than double the 3.3 percent rate registered in the second quarter, the Commerce Department reported Thursday.

Near rock-bottom short-term interest rates, along with President Bush's third round of tax cuts, have helped the economy shift into a higher gear during the summer, economists said. The next challenge is making sure the rebound is self-sustaining, they said.

Which means that the Democratic plan of raising taxes is exactly the opposite of what we want. Well, I suppose that should always be the case anyway.

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13:51 (utc-5)