Give us your thoughts on 5 growth in the thirdquarter. Does that make you feel p toe mystic or pessimistic about it . Dial in, the phonelines are open. Frontpage, you mean. Economic growth is strongest in a decade. Is their headline. And then, the denver post, their headline, rate of 5 00, in thirdquarter, a rush. The ones sluggish row coverry is running at full speed. And the months of july, through september, and this according to Government Data released tuesday, and marking the latest sign, that it is running at full speed. And. Gross domestic product reached, 5 . Better than expected numbers helped push the average above 18,000 for the first time. The latest in a series of record highs. Tony, youre feeling optimistic. Well, you know, one thing that i have seen, this economy is improving, and everything is going, well right now, and yesterday, 18,000, for the first time. Thats good news. And one thing that thats so regretting, and the dem mathematic party wasnt able to carry out that message to be able to win the election. Thats so shocking. Because president barak obama, when he came in, we were losing 700,000 jobs a month, and today, we got all these jobs, and still, the democrat particular party, is staying, and the National Election and that was shocking. And, now, caray message, the American People, letting people know that the is good. And that will cause it, so i hope we get the message. President barak obama is doing good. Tony, so you blame the democratic party. They didnt talk about it enough. Yes, they didnt. Well, they didnt have a clear message. The son from colorado, who lost the election. That man, instead of talking about the economic mess sarges he was talking about womens rights. You can win National Elections. If you cant stand for something, and president barak obama the healthcare, the especially with healthcare, and, the economy, and people getting jobs, all around the country, no, but we go there. The economy, 100 , and, president barak obama said he will not stop until be gets jobs. Well go to mitchell. And, youre not feeling good about the economy, why not . Im on disability, and i cant find a job, and i can work. Host no jobs in your area. Caller no, not for disabled people. Host well go to jack. Why are you feeling good in the economy . Caller well overall, i am feeling good over the short run. Rising National Debt and, that cannot continue. And, mayan says tri is italian, and it means a debt. And this cannot continue, this longterm debt situation, and im also concerned, about chinese penetration, into our overall life. They want to supplant the United States as the number 1 world pore, and now, this is why im space mystic about the long run. But the short run, yes. Long run, im not optimistic at all. Host front page, take a look at their headline, u. S. Economy gains momentum. You can see the charts there, and the gdp up 5 . And you can below that, how the market he ra acted and has been performing over the years, and that big yellow bar, thats the recession, if you look at how the dow jones rose, yesterday, above 18,000 for the first time. So, we turn to you, are feeling optimistic or pessimistic about the economy . If you are feeling good, if you are not. This is the frontpage of the Washington Post, this morning, their headline, gdp growth best in a decade. The growth reported tuesday has led some to believe that the u. S. Economy could expand at clip realm miss myself in sent of the booming 1990s. They include, Consumer Spending, and low levels of personal debt, and, soaring mc, and the government that is encouraging growth. Lori, youre feeling pestimess particular. Caller because my personal income has not increased that same amount. Have you seen any increase 1. 7 . Host over how many years. Caller over last year, and over the past two years, its increased, 1. 7 last year, and i dont remember what it then creased last year, it was 2 . So, now, again, i am brained disabled, so you will have to remind me, what it increased last year. What do you do for a living . Caller im brain disabled. In nevada, this is a right to work state. Im not easily hired, i was fired because of my brain. Q. All right. Youre feeling optimistic. Why is that . Caller in massachusetts. Cautiously optimistic. The Unemployment Rate is down, and, i feel a lot of people like, try to get jobs, and have gotten jobs, and are working, and, you know, things are getting better. And, you know, the morag rates down, theyre real low. Host part of the reason, why it grew is because of Consumer Spending. Have you bought any bigticket items this past year . Caller i had had to buy the refringe traitor, and, thats not really that big. No, not really any bigticket items. Host do you plan to buy anything in 2015. Caller no. No. Host okay. Caller i already have a house. So, i dont need to buy anything big. Host okay. Norman. In new york. Pessimistic, why is that . Caller i want to make a quick comment, in the last years, the only thing, the republicans and democrats have done is made the richardsoner and, the poor forker and, they always talk about making the dream possible, and they dont tell you how much it costs. Well, im going to tell you, 2500 net pay. And people making 500ing theyll be poor all their lives. Okay. Host claudia, youre also pestimess particular. Caller yes, i am pessimistic. When i hear them talk about a 5 rise in the gdp, i never hear anyone talk about mote was in defense spending, when we the big isis because, the see questions center called for auto pat particular defense cuts which didnt go into effect because now we have this new war. I dont believe t. I think that this economy is going to crash, like theres no tomorrow and much theyre taking away all the protections to prevent what happened in 2008, and i have not had a raise in twoandahalf years. And i work in the legal field. When you dont have ground in the legal field, you dont have broad growth anywhere. And i dont see the growth. Host the Washington Post reporting, that much of that surge was atrbted to the purchase of durable goods such as cars, and, appliances, the positive indicators could thuj the timetable for raising rates and the bank has taken a cautious approach, and ratehike will come in the middle of next year. If theres any reason the pestimism, they are still seeing sluggish growth in the housing market, and wages, have not shown, significant growth. Capital good orders, computers, and, ships, were flat, in november, and this measurement, which ex clouds the defense orders, suggests that businesses are holding back. Even as Interest Rates stay low, and their companies have cash on their balance sheets. Now, 45 quarters, the growth has hit or exceeded 3. 5 , past two quarters, since 2003, ask theres growing concerns, that a contract when gp d. Shank was weather related. Jason. Feeling possess as mystic. Caller good morning. Merry christmas, and happy holidays, and feeling pessimistic, because, it had right, that things are going to bottle up and explode, our debt has doubled in the last 46 years. We also, have a lot of parttime jobs, and they wont be there in another month or so. The biggest problem is the unemploy meant rate, it is so bun gelled because Everybody Knows once you run out of the unemployment, they knock you out of the system, and yo you are nt counted and theres so many people. And welfare has risen, has doubled the last so many years. And something is about to give. Still, the housing, most is very expensive, properties, where, the rich are buying it up, and, in great amount. Theyll be able to dictate the prices of these places and, these Companies Buying together, and buying whatever is out there. How is the basic individual worker supposed to pay those high wages for property, when it is own had by people that can control the market. I just think, theres a big bubble and, its going to burst, and i feel sorry for the next president. Host that was jason, were asking you if youre feeling good or not so good. So keep dialing in. And keep getting your comments on this. Joining us now, is in she will, who is an economic reporter. Lets talk about how this is measured, we let our viewers know, what is driving this growth of 5 and, how do they measure this. Guest well, there are four components, we have Consumer Spending, and government spending, and, trade, in the latest report all four of those contributed to growth, Consumer Spending was the most impressive and, we had all four. Host can you explain those categories. Guest well, Consumer Spending, win reason was we saw in the thirdquarter, the lower gas prices. This was encouraging because earlier we talked about property values, and stock prices seeing gains and, those only went to a spal amount of the population. So, those who own homes, and with low gas prices a broader segment can benefit and, they can feel good about the money that theyre spending on that, and we saw apply answers, and t. V. S, and clothing, and other items, and it was much stronger, and broader base he, and government spending, we see a typical thirdquarter rise as unused dollars, funneled in, and so were not likely to see as strong a number in the fourthquarter and, that was encouraging, and were easing, see questionsstration, and add more, to the number. Also the trade numbers were fairly strong. But maybe not as strong, in the fourthquarter, as Global Growth diminishes our exports. Can we go back to defense spending, and we advueuer say that this growth of gdp is fueled which that and that is because this new war on isis. Well its hard to see how much that is pinned down on the isis spending, and just from the gdp release, it is a fair point. It was the strongest that it was in five years, so, well have to take another look at that, and there is a factor, of the see questionsstration, easing, and more money coming in, and ill leave it to more reporters, to say how much Congress Might authorize. Michele, what about Consumer Spend go . Their debt, their income, why are they opening up their wallets . Guest income is a fair point, we havent seen the wage gains, and were seeing subtle signs of incomeing up, and we saw a few different industries, that maybe well have more money. And job gain are helping. On pace for the best year since 1999. I know that the last could you teller mentioned, and this is noted, that some of these, on the job market are not as rosy as they might seem. Were still, seeing how it is measured, and what it means, but there are encouraging signs and, job market, and people are showing theyre feeling good enough to make big purchases, and auto sales, strong. That did of course continue in the third and fourth quarter. So that will be a boom. We saw it in Consumer Spending, and yesterday, were the university of michigan measure of Consumer Sentiment of 7 year high, they are feeling good. Host what is lagging in the economy . Guest well, there are weak points in the job market, and as i said, wage gains are, afternoon the administration will at mid, those are something that have been elusive. It takes as long time for employers to get around, to hiring, and, theyve been reducing their layoff, were seen for the whole year and, in order to add all those jobs, and then, finally get to that next step of feeling the crunch, and needing to raise those wage gains, because they dont have enough workers or because they see a lot of competition in the job market, its still a buyers market, and so, we have seen strong gains, and it has taken awhile to get here and, wage gains would be the big of the. Host what about thenflation . Guest this is a tricky problem. It does help the consumer that were having lower prices, and, gas, as we mentioned, feeds into that, and it is more after policy issue, because it is hard for the policy makers to explain, how theyre going to continue to reduce the accommodation measure, and while theyre seeing such low inflation, which is one of their two mandates. And so, were seeing the unemployment figure, and improve, and for certain reasons, that may be not as bright in the past, and that side is improving, and, inflyings side is still thenar shooting the feds target and, they think it will move up. Some of these gas price effects are transa torey, and we may start to see a little bit of movement back towards 2 . Host finally, how does this compare to other countries. Guest were looking good. Theres an old saying, that they use, about the u. S. Being the best horse, in the glue factory, and, we have a lot of global economies that are struggling, japan, and china, and europe, and, emerging markets not as strong. So, we are looking good, and were looking like were charging ahead in the face of that slow down, and thats what the fed has mentioned, and they would like to is he that were showing signs of underlying demand, it doesnt help us. You see that in the trade deficit, and other indirect effects, na certain countries, get into crisis mode. Looking good for the u. S. Not as great in the fourthquarter and, moving ahead, with some pretty strong underlying sen take mentales. Host okay, thank you. Guest thank you, happy holidays. Host so, we turned to you, what do you make of the economy growing . Is it making you feel more optimistic . C. N. N. Out with a new poll, improving views has his rate to go a 20 month high and, more Americans Still disapprove, and it is at its highest point, since may of 2013. Back it your calls. Brett, uu oar feeling optimistic. Why is that . Caller oh, yeah. Ive been in the stock market and, gdp had nothing to do with it. And it will continue to do that because the government is going to have to print money, so that the economy is good. They cant, policy, keeping a blanket over the economy, one way or the other, im going to make money. Host okay, susan. Pessimistic. Caller its not so much, what the government goods and services are great, we have lots of jobs out there, its the people that have a poor attitude, they dont want to work. They would rather get food stamps. And Church Donations and, they dont want to improve their credit score. They want to mooch off somebody. And theres another fellow who works very hard, because of drugs. And so, the expression, the country is going to pot, is true. Theres people who just, you know, not getting ahead. If they are working hard, they dont have it. And theyd rather spend, spend, spend, and not help themselves and, foreclosure. Host all right. Ill leave it there. Lee, is feeling pessimistic. Caller no, im optimistic. Okay. Im really optimistic, and i always prayed for this economy and, our great president and, im just so sorry are so pessimistic, and i can think, if romney were in office the accolade they would give him. President barak obama has been weathering the storm and, im so happy, that things are looking up, and, for me, as a businessman, and i have always remained optimistic about our country, as well, as this country, god bless america, and, god bless president barak obama and, go usa. Host frontpage of the Washington Times, on another story, disparity, tea party, and, keep irs case open, this is a status report, put out by the house government reform, and Oversight Committee that was led by daryl ice a, and hes outgoing, and in this piece, they report that the irs employees, thats how the Washington Times frames, it, and this is how the New York Times frames it, their headline is, showing no links to the white house. So that sorry will continue. Also, this morning, in the headlines, heres the chicago sun times, this morning. This is a picture, on their front page, the chicago cops salute n. Y. P. D. Also, the richmond times, dispatch, this headline, on the former governor, prosecutors say, give bob mcdonald at any years. So, also this morning. Of of you have heard this, sony has changed its mind, it will be releasing the inteut to a limited amount of theaters, tomorrow, the big chains, did not comment tuesday, but, art house, across country, contacted sony saying, its theaters wish to show the film. You have to find out where that will be playing, because well be asking you, if you plan to see it. You are feeling optimistic, why is that . Caller yes, maam, thank you. I was born in 1929, and, im a vet, and, i think, this economy, is driving the Greedy Old Party crazy because they cant figure out whats happening, 18,000 Dow Jones Industrial average, and i didnt find out, because i told my brother, several years ago, i second bob, as long as the dow jones is between 8 and 12,000, im not going to sweat it. Wonderful. You were born in 1929, the crash of 1929, how did that impact how you grew up . Well, very much so, because, our folks taught us, put something away for a rainy day, and, i worked, for 25 cents a hour in a bakery and, that was when i was a young kid. But, this, affected us because, both of us, my brother, and my kid sister, theyre both decease said now, and anyway, we tried to save something. The trouble with most people is, they dont prepare for the future. The sad thing is, george said, those that dont learn from history are condemned to repeat it. I wish brian lamb would get somebody on, that has written a book about history, and, anyway, thanks for taking my call. And i really appreciate cspan. Thank god for cspan. Host all right. Also, in other news, this morning, heres the headline, from the Washington Times. Theres a picture of him, on charges of tax evasion, and i pled guilty tuesday, and, he will not resign, from congress. Heres what he had to say yesterday will. Very big mistakes, and mistakes, that i immensely regret. And, i am certainly truly sorry for, but i also accept full responsibility for all of those mistakes. I under reported the gross sales, receipts of the restaurant to pay for expenses include, payrolls for employees that were off the books. I had, delivery boys, that were paid off the books. And as a result, the taxes were not accurate. Will you resign . No, as i said before, as long as im able to surf, im going to serve, im still in the capacity to serve. Outside of the courthouse, wher