Friday, June 25, 2010

Pop Quiz/Random Guess

And no referring to your National Income and Product Accounts tables!

The Atlantic just reported an announcement by the BEA that GDP growth figures for the first quarter of 2010 have been revised down from 3.0% to 2.7%. That's low growth to begin with coming out of a downturn, and it's getting revised lower.

Geez - those Keynesians really screwed things up, didn't they! It proves it - you use fiscal stimulus and its going to give you sluggish growth.

So your quiz is: what was the growth rate of government spending - the infamous "G" aggregate in that vulgar Keynesianism equation - in the first quarter? Give a guess, please. I'll let you know tomorrow morning.
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7 comments:

  1. EvanJune 25, 2010 at 3:12 PM

    That socialist Obama probably raised it 45%.

    No, seriously, I googled it, so I won't spoil the answer.

    ReplyDelete
  2. XenophonJune 25, 2010 at 3:55 PM

    1% to 3% I would imagine.

    Obama isn't a socialist; he's as much into crony capitalism as any of the current cast of asshats and toolbags in D.C.

    ReplyDelete
  3. dkuehnJune 25, 2010 at 4:09 PM

    toolbags - I like that

    so far Xenophon's guess is closer than Evan's 45%

    ReplyDelete
  4. scottJune 25, 2010 at 5:41 PM

    Could it have been negative? Just guessing... if not, then I'd say 5%.

    ReplyDelete
  5. XenophonJune 25, 2010 at 5:53 PM

    dkuehn,

    Well, I sort of cheated by giving a range instead of a more specific number. I would imagine that it is in the single digits.

    scott,

    I hadn't considered that possibility.

    ReplyDelete
  6. XenophonJune 25, 2010 at 6:25 PM

    dkuehn,

    If you liked toolbag, you'll love this: http://www.youtube.com/watch?v=y_foalavjaA&feature=player_embedded

    ReplyDelete
  7. Lee KellyJune 25, 2010 at 10:16 PM

    More than C+I?

    ReplyDelete

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