In response to:

Making Sense of Keynesian-Laced GDP Reports

pbobhelms Wrote: Feb 03, 2013 7:40 AM
it does not matter which side or which administration, they are all politicians, doing what they do best. there is only a few that come along that lay it out like it really is. fact is most of them lie to us, and this administration, (Obama) has lied from day one. I fell for it the first time but during the past four years, I cannot actually trust anything he tells us.

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...