Friday, February 12, 2016

Trying to be honest (unlike David Brooks)

In his op-ed in the NYT today, "Livin' the Danish Dream", David Brooks states,
"Currently, total government spending is about 36 percent of G.D.P."
This is a fact-checkable assertion.
It's a lie.

I checked the Bureau of Economic Analysis website, Table 1.1.5
Government consumption expenditures and gross investment is just under 18% of GDP.
In fact, it's just about half the figure cited by Mr. Brooks!

Gross private domestic investment is just under 17% of GDP.

Net exports of goods and services (balance-of-trade) is NEGATIVE - taking away about 3% of GDP!
(Just for fun: the "strong dollar" that ALL the GOP candidates desire contributes to a NEGATIVE balance-of-trade: nobody buys our stuff when it's expensive; but we are more than happy to buy their stuff 'cuz it's cheap!)

that leaves...

Personal consumption expenditures: just over 68% of GDP!
David Brooks simply lied when he cited "government spending" as 36% of GDP.

As I've stated MANY times, the biggest chunk of GDP is consumer spending - folks like you & me going out and spending $$$.

Business "investment"?
Recall, these are the purported "job creators" the GOP simply LOVE! - well, that's not much...
... and no matter how much we give to these "Job Creators" in tax-breaks, if WE aren't spending $$$ to buy stuff, they aren't going to create even ONE job!
I usually enjoy reading David Brooks.
I seldom agree with him, and his approach is off-putting... BUT, I still enjoy reading him.
He is sometimes delusional - Rubio will be the GOP's savior!

He frequently riffs on an unsupported initial postulate... yeah, if the postulate were true, he might have a case... but he offers NO support for the initial assumption!

He doesn't usually flat-out LIE.

Today he did... in a fact-checkable way.
... and I fact-checked it!

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