Some Optimism About the Economy

An editorial from OpinionJournal.com compares the U.S. economy to the rest of the world, and finds it outperforming its peers. According to the editorial, which I assume was written by OpinionJournal editor James Taranto, the relative success of the U.S. economy is due to our lower tax rates and regulations:

"To look closely at international economic data is to be reminded that countries with comparatively low tax rates and regulatory burdens consistently outperform countries with high ones. Of course it's nice to know that America's 'sluggish' economy remains a world-beater. It's even better to know why."

Indeed.

Check out the whole article for its interesting comparisons of U.S. unemployment (both general and long-term), economic growth, etc. with other major economic powers in the world. Although there is no satisfactory analysis of the rampant deficit spending within these shores, it's worth a read. There's too much naysaying going on lately, and it's nice to have a break.