
James Pethokoukis, assistant managing editor for the Money & Business section at US News & World Report spells out how the terrorist attack’s attempt to cripple the US economy has failed and the US economy post the 9-11 attacks has continued to grow.
“Although the towers came down, the resilient American economy didn't. Since September 11, the economy hasn't suffered a single down quarter. In fact, it has notched 23 straight quarters of economic growth. (And despite the subprime mortgage crisis, this is likely to be the 24th straight quarter of growth.) Those numbers are especially amazing when you consider that when the terrorist attacks happened, the Internet stock bubble was in full implosion mode.
The economy dipped in the third quarter of 2001 and was slightly negative in two of the previous four quarters. But it's been nothing but growth since then. Overall, the American economy is, adjusting for inflation, $1.65 trillion bigger than it was six years ago. To put that gigantic number in some perspective, the
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» Economic Impact of 9-11 Attacks Still Resonates from Know More Media
On the sixth anniversary of the 9-11 terrorist attack on New York City and Washington DC, the emotional impact and the economic impact still resonates. However, the US economy has proven resilient and capable of withstanding the assaults to cripp... [Read More]
Tracked on: September 11, 2007 8:41 PM | Permalink to Trackback