Challenging the Premisses
| Start with the debt problem, three views of it,
and the most important thing. Here's a longer look at the debt problem.
Here's a short one on economic policy, some surprising trends, and a few unusual policy recommendations. How'd we get into this mess? Read Policy Venn and Policies of the Venn Overlap. Still with me? Read A Matter of Life and Death. And for an overview, download my 12-page PDF |
Suddenly, everything is different
The interesting thing in the release was not the second-quarter numbers, but rather the "comprehensive revision" of all the past data that came with it. The BEA does this about every 5 years to incorporate changes in definitions and methodology. By its new reckoning, US GDP is about $550 billion (3.4%) larger.
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