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December 05, 2004

US Official: 4% Growth On Way

I'll take it:

The U.S. economy will expand by 4 percent this year, sustaining the recovery begun in 2002, a senior U.S. Treasury official said Sunday. But he expressed concern about high oil prices and imbalances in the global trading system.

"In the United States, the economy has nearly completed its recovery from the 2000-2001 stock market crash ... and it is moving into an expansion phase," U.S. Treasury Undersecretary John Taylor told a gathering of business executives in New Delhi.

"This year it is on track to complete the third year of recovery with a strong 4 percent growth," Taylor said.

In the July-September quarter, the U.S. economy expanded by 3.9 percent, compared with 3.7 percent in the previous quarter.

You know, if you expand the economy a couple hundred billion here and a couple hundred billion there, pretty soon you're talking about real money.


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posted by Ace at 06:48 PM

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