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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: orkrious who wrote (191640)9/12/2002 11:11:25 AM
From: reaper   of 436258
 
well of course it is additive to GDP, as government spending (less transfer payments) is an addition to GDP.

now of course we can argue all day about whether it adds to the nations WEALTH (as opposed to OUTPUT) as government spending is typically for non-productive uses (for a simple example, digging a ditch across the width of Texas with government money would be additive to GDP, but I think we can agree it would not enhance the US' wealth).

all else equal you would rather have jobs added by the private sector than by the government (as private sector jobs will likely be for wealth-building activities) which is why i am saying that the job report was in fact bearish. it just wasn't as 'stand on the table jump up and down' bearish as some are making it out to be.

probably just splitting hairs, which i am wont to do.

Cheers
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