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re: US Colonel Douglas Macgregor gives a REAL State of the Union
Posted on 3/10/24 at 8:39 am to RiverCityTider
Posted on 3/10/24 at 8:39 am to RiverCityTider
Watching through right now, but I had to pause a minute in… where in the world is he getting the 42% of GDP coming from government? Did he mean 42% of the growth in GDP?
Because total 2024 GDP is estimated at 27.94 trillion, while total government spending (federal, state, and local) is estimated at 4.86 trillion. That’s 17%. Even if that estimate is off by a factor of 100, that would still be well short of the 42% assertion.
bea.gov
Anybody able to clear up what he was trying to say with this sentence? I have to assume he just fumbled with his teleprompter a little and accidentally presented the intended statistic incorrectly.
Because total 2024 GDP is estimated at 27.94 trillion, while total government spending (federal, state, and local) is estimated at 4.86 trillion. That’s 17%. Even if that estimate is off by a factor of 100, that would still be well short of the 42% assertion.
bea.gov
Anybody able to clear up what he was trying to say with this sentence? I have to assume he just fumbled with his teleprompter a little and accidentally presented the intended statistic incorrectly.
3
Posted on 3/10/24 at 9:50 am to funnystuff
quote:
Anybody able to clear up what he was trying to say with this sentence? I have to assume he just fumbled with his teleprompter a little and accidentally presented the intended statistic incorrectly.
I do t know but either way that figure is concerning
Posted on 3/10/24 at 11:20 am to funnystuff
[quote]Watching through right now, but I had to pause a minute in… where in the world is he getting 42% of GDP is coming from government? Did he mean GDP growth?[quote]
Probably.
I know deficit spending via the federal government has juiced the shite out of GDP while debasing the USD.
If we took the 20-25% cumulative inflation over the past 18-24 months and applied that to the equities markets you can see where a lot of that money has gone.
Probably.
I know deficit spending via the federal government has juiced the shite out of GDP while debasing the USD.
If we took the 20-25% cumulative inflation over the past 18-24 months and applied that to the equities markets you can see where a lot of that money has gone.
Posted on 3/10/24 at 3:35 pm to funnystuff
Based on the latest information available, the Bureau of Economic Analysis estimated the total annual government expenditure in the United States (covering federal, state, and local levels) at approximately $10,007.7 billion, against an annual total GDP of $27,610.1 billion as of Q3 2023. This puts the total government spending at approximately 36.2% of the GDP.
So, 22.6 trillion GNP vs 10 trillion gvt spending.
37%
Your govt spending excludes State and local.
So, 22.6 trillion GNP vs 10 trillion gvt spending.
37%
Your govt spending excludes State and local.
This post was edited on 3/10/24 at 4:01 pm
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