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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Brumar89 who wrote (112021)1/8/2008 10:53:47 PM
From: American Spirit  Read Replies (1) of 173976
 
GDP is a terrible way to judge an economy. It's a very old-fashioned gauge which credits deficit spending and over-consumption of resources as positives. But they are negatives. Big negatives. It gives back to the fable about killing the Golden Goose. You end up with no more golden eggs.

For instance if you cut down an entire forest and sell timber it's great GDP for one year, but there's no forest left so no GDP at vall after that. Same with using too much oil, over-using our military and squandering our childrens' future. Same with driving up trillions in new debt, forsaking our kids education and letting Exxon and predatorial lenders rip off the middleclass. When you kill the golden gooses of our society, there are no more eggs. But in the short term you get a great GDP.

During the 90's CLinton created a big fat golden goose. Bush killed it.
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