More bad news for the Democrat candidates:
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.
The 7.2 percent pace marked the best showing since the first quarter of 1984. It exceeded analysts’ forecasts for a 6 percent growth rate for third-quarter GDP, which measures the value of all goods and services produced within the United States.
“This is a gangbuster number. Everything came together for the economy in the third quarter,” said Mark Zandi, chief economist at Economy.com. “The key challenge now is jobs,” he said.
Drudge is calling it the ‘Bush Boom.’