Third quarter economic growth slowed to just 1.6% pushed down by the bust in the housing market.
But doesn't this mean that it was the booming house market (which was fueled by the Fed's low interest rates), and not the tax cuts, that fueled the recovery from the recession at the start of Bush's term in office?
After all, the tax cuts are still in effect, so if they were what was fueling the economy, we wouldn't see this slowdown, right?
Source:
http://news.yahoo.com/s/ap/20061027/ap_on_bi_go_ec_fi/economy
2006-10-27
04:40:24
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11 answers
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asked by
Steve
6