Skip to comments.Real World Economics: Data on federal government show sky isn't falling
Posted on 11/11/2012 8:12:16 AM PST by TurboZamboni
Yes, the federal government is growing, as measured by its outlays of money. However, if one compares these to the size of the overall economy, the increases are less dramatic than many claim.
Total federal outlays during the first three fiscal years of the Obama administration averaged 24 percent of Gross Domestic Product, or GDP, which measures the value of all final goods and services produced in our economy. That was an all-time high.
But 30 years ago, during the first three fiscal years of the Reagan administration, they averaged 22.5 percent. Whether an increase of 1.5 percentage points over three decades really represents out-of-control growth of government is a subjective question readers must decide for themselves, but it doesn't particularly alarm me...
(Excerpt) Read more at twincities.com ...
He’s Ed LottoBS.
Life’s great as long as you can borrow money.
If the sky isn’t falling then why are the economic numbers falling?
Jeez... it’s hard to find adequate adjectives to describe how stupid this “analysis” is.
Our tax revenues have collapsed to less than 15% of GDP - meaning, we have a 9% of GDP deficit.
That’s IF we had a budget, which we don’t.
That also ignores the fact that now that the Boomers are shifting to SS/Medicare in large numbers, the deficit is about to grow upwards at rates previously unseen.
And then there’s the time bomb to end all time bombs on the budget: the interest on the debt. The Federal Reserve has crushed interest rates to absurdly low levels, and the US Treasury has responded by rolling more and more debt into the short end of the yield curve. This means that when interest rates finally go upwards again, the interest costs on the national debt portfolio will explode upwards in a very short period of time, because the Treasury will have to roll the vast majority of the debt within 7 years.
The Fed has either lied or been so incompetant... that not a single economic predictor that they publish has been correct... and they know it... and we know it... and they know that we know it... but being progressives... they will lie until the very end... even while burning in the pits of hell.
We're talking about you here --> http://www.freerepublic.com/focus/f-news/2958262/posts
That’s very true; I hear that even in the Dem bastions of local government around here.
Pioneer Press Marxist cheerleaders will wait for a communist revolution before sounding the alarm; and then it’ll only be to herald the complete government takeover of every aspect of the American economy and American life.
There’s simply no possible way to sugarcoat it - the United States is rolling toward a cliff and no one intends to stop it.
Yeah, and we were in a recession then, too.
Fun with statistics!
homelessness,scandals, recessions...none of that matters as long a Dem is pres.