Thursday, October 3, 2013

VIDEO: Peter Klein on Shutdown Doublespeak


  1. Is this guy stupid or just trying to score points with the Koch Bros? Govt spending has fallen.

    Real Government Consumption Expenditures & Gross Investment (GCEC96)

    2010-01-01 3084.280
    2010-04-01 3106.209
    2010-07-01 3103.533
    2010-10-01 3071.524
    2011-01-01 3012.042
    2011-04-01 3002.425
    2011-07-01 2983.236
    2011-10-01 2971.654
    2012-01-01 2961.293
    2012-04-01 2963.452
    2012-07-01 2988.760
    2012-10-01 2938.804
    2013-01-01 2907.367
    2013-04-01 2904.477

    1. Interesting you would resort to calling someone else stupid, when in a recent post you demonstrated abject ignorance of basic accounting.

  2. @Jerry, first of all, you're an idiot. The Mises Institute and the Koch brothers do not really get along. Second, did you intentionally leave off 7/1/13 and 10/1/13? Also, where did you get those numbers?

    1. He got them from the St. Louis Fed. The data go only that far, since the federal government's fiscal year runs from 10/1 - 9/30.

    2. Jerry may be ignorant now, but if he continues to read EPJ and LRC, in approximately 2 years we will have a convert. At least that is how long it took me to wake up.

    3. Said numbers are at odds with the CBO, which reports:

      2007 $2.8 trillion
      2008 $2.9 trillion
      2009 $3.1 trillion
      2010 $3.6 trillion
      2011 $3.8 trillion
      2012 $3.7 trillion
      2013 likely $3.8 trillion

      This of course ignores two key factors. The first being the ever growing off balance sheet obligations of certain entitlement programs. The second, and possibly more immediate factor, is that the interest paid on the national debt is at a secular low due to Federal Reserve interference in the market for debt. If/When this interference is lifted the interest balloons and Fedgov detonates overnight. This Federal Reserve action is having the affect of rapidly depreciating the currency while it is in operation, and thus when that additional factor is considered it becomes obvious why so many Americans are feeling burdened by the current government regime.