[lbo-talk] In Re: spending as a percentage of GDP ...

[Wojtek S]

Where did you get the 30% figure.  BEA quote $4517.7 in 4th quarter
2007 and $5286.6 in 2nd quarter of 2010 (in current prices) which is
about +16.6%.

http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=86&ViewSeries=NO&Java=no&Request3Place=N&3Place=N&FromView=YES&Freq=Qtr&FirstYear=2007&LastYear=2010&3Place=N&Update=Update&JavaBox=no#Mid

wojtek

On Tue, Oct 12, 2010 at 2:42 PM, Doug Henwood <dhenwood at panix.com> wrote:
>
> On Oct 12, 2010, at 2:29 PM, Jordan Hayes wrote:
>
>> It's only a question of what you mean by "way up" -- and what you think the response to saying that should be.
>
> Nominal spending rose almost 30% between the end of 2007 and the 2nd quarter of 2010, a time when nominal GDP is up 2%. I think a rise of nearly a third when the economy's been flat counts as "way up." You can argue that it should have been bigger - I'd argue that it should have been bigger but mostly better - but really, you look other-worldy denying that government spending has risen a lot.
>
> Doug
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