The US GDP for the first quarter of 2015 has now been officially adjusted to show a decline of .7 ... last year 1Q was also a decline. With a maximum of irony for the warmist administration, both bad numbers were partially blamed on cold and snow!
So what is a failed administration with failed economic policies to match it's failed foreign policy to do? Just what the warming crowd has done multiple times -- change the how the numbers are calculated, HIDE THE DECLINE!
For the first time, the US is changing the way it measures its economic growth, the measure we call our gross domestic product. Starting in July, the keepers of US economic data at the Bureau of Economic Analysis will stand over the usual cauldron of GDP – a stew that includes how much Americans consume, government spending, investment, exports and imports. They'll begin to add new ingredients that, in a puff of smoke, will create a more favorable, higher gross domestic product.
The new ingredients include Hollywood royalties from TV, movies and songs – some Tinseltown magic, really – as well as revenues from scientific research and development. Like a feelgood movie, this will make us feel positive, briefly – boosting our GDP by as much as 3% from its currently anemic level of 0.4%.Won't that be nice! We add 3% ""growth" by waving a wand! Starting in July, unless you see the numbers next to a "historical GDP number", you have to subtract 3% to compare what is being reported with what you think GDP means.
Note that both of news of the decline in GDP and the change in the number calculation are from foreign news sources -- I can find them on known conservative sites in this country, but in general the MSM doesn't seem to be very interested in reporting this.
Too much important soccer news I guess!
'via Blog this'
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