In response to:

Making Sense of Keynesian-Laced GDP Reports

LarryFromMo Wrote: Feb 01, 2013 8:33 AM
This report just reflects the acceleration in government spending in the 3rd quarter in order to get Obama elected. Average the 3rd quarter and 4th quarter GDP numbers and that would about get us to reality. Of course, it's too late for the gullible to take back their votes.

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...