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Common sense tells me to stick to that steady course. Take the state of our economy. Last January, most things were rapidly getting worse. This January, most things are slowly but surely getting better. The worst recession since World War II turned around in April. The best cost-of-living news of the past year is that double-digit inflation of 12 percent or higher was cut almost in half.
And I'm not unrealistic about the future. But there are reasons to be optimistic about our economy. First, we don't have to fight double-digit inflation. Second, most industries won't have to make big cuts in production because they don't have big inventories piled up. And third, our exports are running solid and strong. In fact, American businesses are exporting at a record rate.
Leaders have started to realize that double-digit inflation is no longer a way of life. I misspoke there. I should have said "lenders." So, interest rates have tumbled, paving the way for recovery in vital industries like housing and autos. The early evidence of that recovery has started coming in.
Leaders have started to realize that double-digit inflation is no longer a way of life. I misspoke there. I should have said "lenders." So, interest rates have tumbled, paving the way for recovery in vital industries like housing and autos. The early evidence of that recovery has started coming in.
And I'm not unrealistic about the future. But there are reasons to be optimistic about our economy. First, we don't have to fight double-digit inflation. Second, most industries won't have to make big cuts in production because they don't have big inventories piled up. And third, our exports are running solid and strong. In fact, American businesses are exporting at a record rate.
Common sense tells me to stick to that steady course. Take the state of our economy. Last January, most things were rapidly getting worse. This January, most things are slowly but surely getting better. The worst recession since World War II turned around in April. The best cost-of-living news of the past year is that double-digit inflation of 12 percent or higher was cut almost in half.
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