With positive revisions to the last couple of months and underlying numbers on the workweek and earnings a bit stronger than anticipated, these numbers suggest that while we are not out of the woods, we are not already in a recession.

Make no mistake, the economy is still very weak, but it appears that some of the headwinds we were bucking earlier this year are dissipating. But more must be done to release our market economy from the artificial restraint placed on it by burdensome regulations and unleash our job-creating potential.