If you're personally in great shape financially, the economy may seem wonderful no matter how bad it is. However, if you're down to zilch in assets and cash the economy may seem terrible no matter how good it is.
But I wanted to pass along this viewpoint from Patrick Toomey, President, Club for Growth.
As he notes, "we in the United States, and to a lesser degree the entire world, have just lived through the greatest period of prosperity in human history."
He cites some facts worth noting:
In the 1970s, the average unemployment rate was nearly 7%. It's been in decline ever since.
He also states that America is not in a manufacturing decline. "Total manufacturing output peaked in 2007! Yes, U.S. factories produced more last year than in any previous year in our history."
Toomey, a former Congressman, gave these facts during a speech in January at Hillsdale College in Michigan.
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