The Marietta (Ga.) Daily Journal on how the economy's climb will continue to be slow:
There's good news on the economy for Cobb and Georgia amidst gloomy news for the country as a whole, one of the nation's most respected economists told a Cobb audience.
Dr. Albert Niemi Jr., dean of the Edwin L. Cox School of Business at Southern Methodist University in Dallas, was guest speaker at the recent annual economic forecast breakfast presented by the Bank of North Georgia at the Cobb Energy Performing Arts Centre.
He told the crowd that while the recovery from the Great Recession that began in 2007 has been slow and tedious, Georgia is outpacing the nation. And he predicted that the top three state economies in the country over the next two decades would be those of Texas, North Carolina and Georgia. Our state's domestic product in 2014 will grow by 3 percent, considerably better than the 2.4 percent expected for the country as a whole, he said.
The state's population is again growing at a healthy rate, which in turn is strengthening the local housing market. More than 45,000 new homes are expected to be built in Georgia next year, he said. The number for the country as a whole is expected to hit 1 million. That's nearly twice the 580,000 built in 2010 — but still way short of the 1.8 million homes built on average each year from 2000 to 2007. Niemi noted that the overall recovery has been a slow one, lagging our performance after past depressions and recessions.
But sluggish economy and threadbare recovery are what is to be expected when the country is led by a president and party who believe in high taxes are wrenching apart the country's health system and who are eager to open the borders to millions of illegals to compete for jobs with U.S. citizens — and thereby keep wages low for all.
The wonder is not that the economy is finally recovering.
Rather, it is that it is recovering at all.