Economic optimism

There has been cause in recent days to think that the U.S. economy may finally be growing stronger following the end of the recession that plagued much of President Bush's first term.

U.S. employment in 2004 rose at the fastest pace in the last five years. Some economists pooh-poohed the growth, pointing out that the number of new jobs was less than the Bush administration had forecast as the result of tax cuts. But the solid employment numbers can't be ignored.

Closer to home, 2004 was a boom year for building permits, another indicator of confidence that the economy will continue to strengthen.

No economic forecaster can overlook the short- and long-range impact federal and state legislation will have on the economy. That's good news for the nation and for Missouri, both of which have Republican control of the legislative and executive branches. And GOP leadership at both the national and state levels has promised to address key issues that have a tremendous impact on the economy.

Among these are taxes, tort reform and workers' compensation issues that have, in too many cases, been a drag on capital investment in the private sector.

It also was interesting to see economic predictions made last week by community leaders. The overriding theme was optimism. It goes without saying that an optimistic approach to any situation is likely to produce better results than a gloom-and-doom effort.

We're looking for a stronger economy this year, and all the signs are there.