Fiscal Folly

Mark Thornton discusses why increased government spending not only explains ongoing wayward increases in the GDP, employment, and stock price numbers, but also why so many people decided to vote against the incumbent in favor of the challenger, Donald Trump. The key variable is that government spending in GDP statistics does not reflect true economic value the way your personal spending does.

"Federal Government: Current Expenditures" (Federal Reserve Bank of St. Louis): fred.stlouisfed.org/series/FGEXPND

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