In response to:

Making Sense of Keynesian-Laced GDP Reports

glenn183 Wrote: Feb 01, 2013 12:38 AM
You actually believe that? Government just rearranges the Titanics deck chairs. They create NO wealth - just confiscate from better off folks and hand it out to those who didn't earn it. If I did that to you I'd go to jail for theft.
Pistol Wrote: Feb 01, 2013 7:33 AM
Yeah glenn183 she actually does. This idea has been around all my 79 years, but never so blatantly stated by those in sets of power like Pelosi and Krugman of the Nobel prize. As Dr. Sowell so eloquently explains, the rub is at least 2-fold. First, gov't produces no wealth, so anything they spend must be subtracted from the general wealth of those taxed. Second, gov't spending is characterized by waste, corruption and stupidity, sharply reducing the benefits compared to the same money being spent by individuals. Particularly onerous is the money the gov't spends to reduce production, since all prosperity depends on production.
MadMaya Wrote: Feb 01, 2013 3:47 AM
Thank you, glenn183. Big government is entangling more and more people in their web of dependency while promising each new recruit the sun, moon, and stars -- paid for by the private sector. Creating dependency -- that's what they do best. What people don't get is that the government giveth and the government taketh away. Dependents are at the mercy of these whims. Conversely, private sector workers have far more control over their future and finances, but this sector is being strangled. Where will all that lovely money come from to pay the gov't workers when the private sector is in ruins?

Fighting against statism in Washington is a lot like trying to swim upstream. It seems that everything (how to measure spending cuts, how to estimate tax revenue, etc) is rigged to make your job harder.

A timely example is the way the way government puts together data on economic output and the way the media reports these numbers.

Just yesterday, for instance, the government released preliminary numbers for 4th quarter gross domestic product (GDP). The numbers were rather dismal, but that’s not the point.

I’m more concerned with the supposed reason why the numbers were bad. According to...