Thursday, July 31, 2003

Yahoo! News - Defense Spending Driving U.S. Economy

Yahoo! News - Defense Spending Driving U.S. Economy: "'Growth in the second quarter was boosted by federal defense spending, by business investment in plant and equipment, and by consumer spending,' Commerce noted.
Spending on defense, much of it to support the war in Iraq (news - web sites), shot up at a 44.1 percent rate -- the strongest since 110 percent in the third quarter of 1951 -- after falling 3.3 percent in the first three months of the year. "

Lots of numbers about the U.S. economy. No mention of record debt, but that won't be a problem for many years, so it can safely be ignored.

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