EconoProgress

Ya pays yer money, an'  ya takes yer choice.

   It's still not time to start a party, but the economic doctors are reporting improving symptoms.
   Total output in the U.S. increased by 4.2 percent in the second quarter, the government Bureau of Economic Analysis reported. That's a solid increase from the 2.1 percent growth rate of GDP in the first three months of this year. Meanwhile, the Congressional Budget Office estimated that growth will "expand more rapidly" for the rest of the year, after being held back by bad weather and some other factors earlier. And for next year, the CBO anticipates a growth rate of 3.4 percent during 2015.
   There's also a report that the government's spending deficit is still narrowing. That will satisfy some critics, but others insist that spending cuts are holding back recovery.
   And for its part, the Federal Reserve Board, which plays a major role in pumping some life into the economy, remains cautious, suggesting that they haven't yet seen strong enough evidence to pull back too sharply yet.
   So economic recovery seems to be taking hold, and we can expect the Administration to take the credit for it as midterm elections approach. There is, of the course, the question of who deserves blame or credit for downturn and recovery. When things look good, incumbents claim credit. If not, they blame predecessors.
   As for a global picture, the International Monetary Fund is even more cautious than the Fed, noting that some European nations are still mired in deep economic mud, while others are struggling.
   Who's right? Everybody and nobody. Consider your own political leanings, and then take your pick.