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Reports of Recession Greatly Exaggerated

The U.S. economy grew by .6 percent last quarter, as it did in the previous quarter, without the benefit of those silly stimulus checks. This means that the country is not sufferring a recession, which occurs when the economy shrinks for two consecutive quarters. This doesn’t mean there’s no cause for concern. Indeed, growth is at its slowest since 2002, and, as excessive taxes and regulations continue to suppress economic activity, the economy will continue to grow at a slower rate than it could absent such government meddling. If Congress is serious about staving off a future recession, it should slash taxes and regulations, soggy pillows over the face of the economy as it gasps for breath.

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