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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.22-0.2%Nov 21 4:00 PM EST
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ggersh
To: elmatador who wrote (109920)1/19/2015 1:51:44 PM
From: bart131 Recommendation  Read Replies (3) of 217930
 
Some decent charts, except for two. The WSJ is guilty of the same thing as most of not taking into account any off budget expenses, so the actual budget deficit does not reflect actual debt growth - its extremely misleading.

Last October, the yearly budget deficit total was $514 billion, while actual Federal debt growth was $1.034 trillion. It's false and nothing but spin, and has been going on since the early 1970s - under both parties. It went so far that under Clinton, it falsely appeared that we had budget surpluses when in reality during his two terms the Federal debt increased from $4.8T to $5.8T... about 21%. Slick Willie indeed, although all presidents since Nixon have been guilty of it.

The 2nd issue is that the U6 unemployment rate does not include any discouraged workers beyond one year, so is again a false and misleading statistic. The U7 statistic did include all discouraged workers, but was discontinued under the early Clinton administration. My estimated U7 reconstruction has it slightly above 20% currently, down from about 24% at the depths of the crisis.

The drop in median household income is telling too. When I get my next shipment of round tuits, I'd like to compare the last five presidents record on median household income gains or losses, with per capita and inflation adjustments. My best guess is that the facts will aggravate the hell out of the members of one party, much like the Federal debt growth chart does.

Here's a chart that I've seldom posted.

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