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Another Sign of Improving Economy: Durable Goods Orders Up

Confidence that Obama's leadership will pull this nation out of its recession is once again reflected in the durable goods orders report for February, which shows the recession is moderating and starting to turn around:

New orders for long-lasting U.S. made goods rose in February for the first time in seven months and new home sales rebounded, government reports showed on Wednesday, suggesting the economic downturn might be easing a bit.

The Commerce Department said durable goods orders rose 3.4 percent to $165.6 billion in February, the biggest gain since December 2007, after a 7.3 percent plunge the prior month.

In another report, the department said sales of newly built U.S. single-family homes rose at their fastest pace in 10 months in February.

The data are the latest in a series of recent economic reports indicating the downturn in the economy, after a brutal fourth quarter, may be moderating.

Rush Limbaugh and his roving pack of dogs are still down-talking the prospects of an economic recovery -- with some of the more flea-bitten of the pack suggesting that Obama will bankrupt our nation. Meanwhile the group of Americans who show the largest increase in confidence are -- Republicans -- the same people telling Americans that we're headed for the crapper. They're buying stocks and investing in America's future as they try to browbeat Americans into believing we're headed for a depression.


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Comments (4)

Allen:

Falling wages for working people is why the US economy had to rely upon a house of cards and monopoly money for fake "growth". Real wages have stagnated for a decade, thanks to unsolved health care crisis and management having too much leverage for its own good. These idiots don't realize that a failing middle class means no one to buy your products, especially now with the end of easy credit.

Now GOP's new buzz word is "unsustainable", however, what was really "unsustainable" as the recent events so adequately portray is that George Bush's Iraq War, tax cuts to the wealthy, jobs going over seas, tax breaks to companies that shipped jobs over seas, deregulation of banks and insurance companies, and more (which I will leave to the experts to flush out), is the really true Unsustainable and break down and collapse of our economic system, fabric of society (bridges, roads, jobs, education), you name it, he failed in all aspects of this society.

This new buzz word "unsustainable" is a hoax, disingenuous and hypocritical. Remember, they want Pres. Obama to Fail! And lastly, let's be Clear, George W. Bush's first year in office was spent more at the Ranch then in Washington. Where was the Party of No's outrage then? May be if George had spent more time in D.C. working, they would have been more alert about the signs leading to 9/11, just a thought...

So, for the record, "the fundamentals are strong." Is that your message, Lee? Be careful - bad things have happened to people after they have made that declaration.

Like everyone else, I'm thrilled to see reports of business profits and increased consumer spending, as well as a small bull run on the stock market. The question is, can our economy keep up those trends for the next ten years as we absorb $10 trillion in deficit spending plus untold billions in new costs that will be passed directly to the consumer as a result of the massive new government-managed health care, financial, and energy programs that this administration wants to implement?

And remember, this doesn't even include the billions in Social Security and Medicare costs that we will owe to Baby Boomers, that we still haven't figured out how to pay for.

Your position seems to be "yes we can keep the economy growing while we spend trillions of dollars we don't have." Perhaps you could explain how this is possible. President Obama says, in effect, "Just trust me, it will work." Is that what you believe too?

Lee Ward:

"So, for the record, "the fundamentals are strong." Is that your message, Lee?"

Boy, was McCain wrong on that one - the economy tanked after he made that declaration, proving Republicans are only interested in tax breaks for the rich and to hell with the rest of the Americans.

The economy is showing signs of improvement, Michael - that's my message. We're on the right track, as much as the right wing wants you to believe otherwise.

It takes a Democrat to reduce the deficit -- Clinton did it and so will Obama. How? I don't know. History and track records show it can be done.

Job One is protecting the jobs of the working people of this country. I know that you Republicans are only concerned with protecting the rich - sorry, that's not the priority right now.

And it's amazing that Republicans didn't give a rat's ass about the defict for 8 long years -- especially when Bush destroyed it the very first few months he was in office. No complaints then - but listen to the squawking from the hypocrites now.

It's all just political bullshit. Republicans failed in the 2006 and 2008 election, and they still don't care about bringing working Americans into their 'big tent' - they only know how to throw stones and whine.

It's rather pathetic, really....

Allen:

Michael, by fixing the expensive health care system, both BUSINESS, and the consumers will benefit. Realizing the GOP is all for big business and pee all over the rest of the American workers, why are you against helping business with their health care costs?

And where was the outcry from the GOP when President Bush borrowed and spent like a drunker sailor? There was none, but now you found your voice? Sorry, you guys are several years too late trying to become fiscal again. And the American people realize who caused this economic mess, and it wasn't the Dumbo's in office.


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Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

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