Faux Austerity

Cancel 2016.2

Cancel 2016.2

The Almighty
http://news.investors.com/ibd-edito...642705-federal-fiscal-austerity-is-a-myth.htm

In its GDP report, for example, the Bureau of Economic Analysis said government spending dropped 6.6% in Q4. And unless Congress acts, more than $1 trillion in automatic spending cuts will start to kick in as part of the so-called sequester.
But dig a little deeper, and there's little to back up all this austerity talk.


Spending: Up


According to monthly spending data from the Treasury Dept., total federal spending — which includes transfer payments and other federal outlays not counted by the BEA — increased by $98 billion in Q4 compared with Q3. And spending was up $31 billion when compared with Q4 2011.


For the entire year, spending in 2012 was virtually unchanged from 2011, and was up $86 billion over 2010, a year when the government was still spending stimulus money in earnest.


Plus, the "fiscal cliff" deal worked out between President Obama and the Republicans actually added almost $50 billion to planned spending in 2013, and a total of $332 billion over the next decade, according to the Congressional Budget Office.
​
Click to expand...


​
 
Adding social security payments to refute decreased gov spending is hillarious.
Just hear that 70 percent of people own less than 10,000 in stocks!
Not shocking you poor people are ignorant on economics!
 
The Dude said:
Adding social security payments to refute decreased gov spending is hillarious.
Just hear that 70 percent of people own less than 10,000 in stocks!
Not shocking you poor people are ignorant on economics!
Click to expand...

Toppy,

Very few people on this board are more ignorant on economics than you. You spout off ridiculous talking points that have little if anything to do with economics.
 
Superfreak said:
Toppy,

Very few people on this board are more ignorant on economics than you. You spout off ridiculous talking points that have little if anything to do with economics.
Click to expand...
Right, you were hiding in the woods trembling while I was making money during obama's first term!
This is the king red hiring of the year and its just February
 
Only in liberal loony land where we are running $1.6 trillion deficits could they argue that spending is decreasing. But, then they believe anything this administration shovels their way. It is really astounding to watch. I really question their competence to take care of themselves
 
I love how the right-wingers suddenly find reasons to dispute the agreed upon authorities for economic information because they don't like what they say. Really bizzare.
 
The Dude said:
Adding social security payments to refute decreased gov spending is hillarious.
Just hear that 70 percent of people own less than 10,000 in stocks!
Not shocking you poor people are ignorant on economics!
Click to expand...

So some spending is spending and other spending isn't spending ?.....no wonder the Dude is confused.

Like I said.....Dude obviously can't refute the post with anything,..............legitimate
 
Dungheap said:
I love how the right-wingers suddenly find reasons to dispute the agreed upon authorities for economic information because they don't like what they say. Really bizzare.
Click to expand...

THAT is exactly what the Dude is doing.....ignoring reality because he don't like what it reveals about spending....

When ALL THE DATA is totaled up and it shows higher spending.....why dispute that fact.....

Of course leaving some spending out of the equation with show a different total....but its not the total truth is it.
 
NOVA said:
THAT is exactly what the Dude is doing.....ignoring reality because he don't like what it reveals about spending....

When ALL THE DATA is totaled up and it shows higher spending.....why dispute that fact.....

Of course leaving some spending out of the equation with show a different total....but its not the total truth is it.
Click to expand...
I'll worry about spending years from now when it's bad enough to hurt the stock market
 
Dungheap said:
I love how the right-wingers suddenly find reasons to dispute the agreed upon authorities for economic information because they don't like what they say. Really bizzare.
Click to expand...

So you are saying that the gobblement is actually spending less money even though we are running $1.6 trillion deficits? That is what you believe?

OKEY DOKEY POKEY
 
I Love America said:
So you are saying that the gobblement is actually spending less money even though we are running $1.6 trillion deficits? That is what you believe?

OKEY DOKEY POKEY
Click to expand...

I'm not saying anything. The Bureau of Economic Analysis says as follows:

Real federal government consumption expenditures and gross investment decreased 15.0 percent in the fourth quarter, in contrast to an increase of 9.5 percent in the third. National defense decreased 22.2 percent, in contrast to an increase of 12.9 percent. Nondefense increased 1.4 percent, compared with an increase of 3.0 percent. Real state and local government consumption expenditures and gross investment decreased 0.7 percent, in contrast to an increase of 0.3 percent
Click to expand...

And the BEA has generally been regarded as the expert on such matters and their impact on GDP. I'm saying its bizarre how right-wingers now refuse to accept the BEA when things happen that people like me said would happen if the government cut spending.


http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
 
You must log in or register to reply here.
Back
Top