Political Economics: Why The Economy Is Doing Much Better Than It Seems

"But a surge in imports suggests U.S. consumers and businesses are spending. Subtracting these trade flows provides us with a measure of Gross Domestic Purchases--how much stuff we buy, not how much we produce. These purchases grew at a 3.9% annual rate in Q3 after a 5.1% growth rate in Q2. In the past year domestic purchases rose 4% at an annual rate vs. a 3.6% annual rate during the same time period in 1992. That's right: The spending side of the economy is even stronger today than it was when the Democrats were berating the economy in 1992."

Read the complete article on Forbes here.