The economy is looking good

Remember the dire warnings of economic calamity if George Bush was elected instead of John Kerry?

Well, the job market looks good,

and the the GDP is increasing in an economy that "has a tailwind." (This AP report in the Washington Post requires registration, so here are some relevant sentences for convenience.)

The economy closed out 2004 with decent momentum and appears to have picked up some speed since then, raising hopes of a better climate for jobs but also fears of worsening inflation.

The broadest barometer of economic health, the gross domestic product, advanced at an annual rate of 3.8 percent over the final three months of last year, the Commerce Department reported Wednesday.

"The economy at the moment has a pretty good tail wind," said Anthony Chan, senior economist at JP Morgan Asset Management.