Richard's Real Estate and Urban Economics Blog: Anti-stimulus
Anyone see a problem here? It's not like we have seen a rip-roaring "crowding-in" of the private sector. For those who think we should cut government spending, well, we are, and more is to come thanks to the debt-ceiling deal. I hope I am wrong about this, but it is hard to see how this leads to a recovery in jobs any time soon.The Government Component of the National Income and Product Accounts for the past 6 quarters (QI 2010 through Q2 2011):
21 Government consumption expenditures
and gross investment-1.2 3.7 1.0 -2.8 -5.9 -1.1 22 Federal 2.8 8.8 3.2 -3.0 -9.4 2.2 23 National defense 0.5 6.0 5.7 -5.9 -12.6 7.3 24 Nondefense 7.8 14.7 -1.8 3.1 -2.7 -7.3 25 State and local -3.9 0.4 -0.5 -2.7 -3.4 -3.4
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