What would the real state of the economy be if the government was not running such huge deficits? I follow Dave Short's blog. He does a great job of showing objective facts about the state of the economy.
In a recent post, by guest writer Randy Degner, a graph of real Gross Domestic Product is shown - that is GDP without trillions in government borrowing. Randy points out that the average real GDP would be minus 0.3% since 1980 instead of the 2.7% reported had the government not been on a borrowing binge.
Basically, we have borrowed to fuel our growth for over 30 years. Can it continue indefinitely? How and when will it end? Time seems to be running out. Who will bail out the FED?
In a recent post, by guest writer Randy Degner, a graph of real Gross Domestic Product is shown - that is GDP without trillions in government borrowing. Randy points out that the average real GDP would be minus 0.3% since 1980 instead of the 2.7% reported had the government not been on a borrowing binge.
Basically, we have borrowed to fuel our growth for over 30 years. Can it continue indefinitely? How and when will it end? Time seems to be running out. Who will bail out the FED?
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