Counting our Blessings

It’s that time of year when we count our blessings. In America, they are abundant, especially this year.

For starters, the unemployment rate is down from seven percent last December to 5.8 percent. Washington State mirrors the national average. Housing starts, retail sales and our gross domestic product are all up from last year, signs of an improving economy.

Since consumer spending drives economic growth, low interest rates have helped. Home mortgages and auto loans hover in the 3 to 4 percent range. Contrast that to Russia, where interest rates are nearing 20 percent as bankers struggle to...