Why do the neoCONspirators use % of GDP for their projections?

[Just Me]

Is that the only way they can paint a false picture of economic reality?

[eallen]

1. It's actually a very reasonable way to look at many expenditures.

I don't know what projections you mean, so I can't tell whether or not there is something fishy being done under the guise of projecting what GDP will be. But I think it's quite reasonable to look at a lot of national expenditures in terms of fraction of GDP, just as an individual looks at expenditures as a fraction of income. How much do you pay in rent? If it's more than a fifth of your income, that's a pretty heavy slice. Similarly, you can look at the fraction of US GDP that goes to the military or education and compare it to what other nations do.

But yeah, like everything, it can be used to obfuscate. It all depends.

[Just Me]

3. But, Bolten is "projecting" GDP for purposes of "projecting" the budget.

I understand the use of GDP figures to relate other economic issues like expenditures, growth, jobs. But, that is using GDP FACTS from the past.

What Bolten is doing is "projecting" an unknown GDP and comparing that unknown with the government budget as a % of that unknown GDP. It would be easy to assume a future that includes a substantial growht in the GDP such that the deficit will APPEAR to be reduced in half.

It looks like hocus-pocus bullshit to me, even though I am not an economist.

[On the Road]

2. That's About Right

It's a shameless attempt to minimize the huge dollar amounts. All through the Reagan and Bush I defecits, I never heard it expressed this way. But now, who cares, right? Deficits don't matter.

[Just Me]

4. Does the government (or any business) typically "project" GDP?

:shrug:

I realize that lots of projections are made on job growth, production, expenditures, profits and so forth.

I just do not recall when it became a standard economic or accounting practice to "project" Gross Domestic Production.

:shrug:

[Just Me]

5. They've moved from "fudging/manipulating" to magical predictions.

54anickel provided me the following article concerning the trickery with numbers to paint a more favorable GDP:

http://www.gillespieresearch.com/cgi-bin/bgn/article/id...

Apparently, they've moved from fudging into fortune-telling in order to try and *LOL* "prove" that their budget results in the deficit being cut in half.

This is such a freakin' fraud!!!

[Just Me]

6. GRRRRR,....neoCONspirators and their frauds!!! n/t