There are lots of things that make GDP a joke, but government spending is not the biggest one. Fortunately, the federal government still accounts for less than 25% of GDP. Government workers are employed, with careers, houses, consumption and kids. So to say that gov't expenditures are a joke just becasue they can print money is disingenuous. They know what inflation is, and they've seen how things are in Zimbabwe.
Not nearly as much of a joke as sunk costs on healthcare, divorce, and "defense"
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timeasmymeasure
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Date: 2009-09-03 02:29 am (UTC)no subject
Date: 2009-09-03 08:32 am (UTC)no subject
Date: 2009-09-03 09:39 am (UTC)Not nearly as much of a joke as sunk costs on healthcare, divorce, and "defense"
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Date: 2009-09-03 10:34 am (UTC)Also, your top graph shows inflection and even decurvature. I was not expecting such an optimistic graph from you. Thank You!
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Date: 2009-09-03 11:48 am (UTC)You're funny :)