Good Economic News

There's been a lot of good economic news over the past couple of weeks.

First up, unemployment benefits:

The number of Americans filing new claims for jobless benefits slid last week to the lowest level in more than four and a half years . . .

Related to that, the unemployment rate has fallen under 8%:

Friday's monthly jobs report changed the picture of the U.S. economy in more ways than one, showing the unemployment rate fell to the lowest level in more than three years and hiring was stronger than originally reported throughout the summer.

Unemployment unexpectedly fell to 7.8% in September, down from 8.1%, as a survey of U.S. households showed 873,000 more Americans had jobs compared to a month earlier.

Next, the U.S. economy is the "sole bright spot" in the world economy:

“The global economic recovery is on the ropes, battered by political conflicts within and across countries, lack of decisive policy actions, and governments’ inability to tackle deep-seated problems such as unsustainable public finances that are stifling growth,” said Eswar Prasad, a Brookings senior fellow and creator of the TIGER index. “The US economy remains the sole bright spot, with economic activity, employment and financial markets all showing unexpected although still modest strength.”

Now, the U.S. Debt:

U.S. debt has shrunk to a six-year low relative to the size of the economy as homeowners, cities and companies cut borrowing, undermining rating companies’ downgrading of the nation's credit rating.
...
Total indebtedness including that of federal and state governments and consumers has fallen to 3.29 times gross domestic product, the least since 2006, from a peak of 3.59 four years ago, according to data compiled by Bloomberg. Private- sector borrowing is down by $4 trillion to $40.2 trillion.

And finally, the U.S. deficit:

The U.S. government ran a budget surplus of $75 billion in September, the Treasury Department reported Friday, but posted a deficit of $1.089 trillion for all of fiscal 2012, the fourth year in a row with a deficit of more than $1 trillion. Compared to a year ago, the deficit is about 16% less, due to both higher revenues and reduced spending.

So that's unemployment down, the U.S debt down, and the U.S. deficit down.

So why do we need to take a chance on Mitt Romney?