Tag: GDP
Health Services Accounts for One-Fifth of Weak Q3 GDP Growth

Wednesday’s advance estimate of Gross Domestic Product for the third quarter indicates that growth in health spending is maintaining a disproportionate share of weak GDP growth. Commenters noted that the weak estimate was largely due to shrinking inventories. This explains why personal consumption expenditure (PCE) growth ($135.7 billion) was actually higher than GDP growth ($121.1 billion),...
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Health Spending Slows to a Less Alarming Pace

Last week’s second estimate of Gross Domestic Product for the second quarter confirms that growth in health spending took a welcome break. Unfortunately, it is not a clear break in the trend of health spending consuming an increasing share of our national income. The second estimate revised the advanced estimate, and the update was...
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Robert Higgs’s Recent Interview by Libertad Digital (here in English)

I was interviewed recently by Angel Martin for Libertad Digital, an interesting Spanish website. The interview was posted today. Topics discussed include the recent financial debacle, the current recession, the government’s recent policy actions, and several related, more general subjects, such as “regime uncertainty” and U.S. foreign policy. For those who might be interested...
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Anatomy of the Current Recession

Not everyone has the stomach for perusing the national income and product accounts, but one who does can learn a great deal about what ails the present economy and about its prospects for returning to a healthier condition. (I draw the data I discuss here from Table B-2, “Real gross domestic product, 1960-2009,” in the...
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CBO Report: U.S. Will Go to Hell in 2009

According to a report just released by the Congressional Budget Office (CBO), “the [federal budget] deficit this year will total $1.2 trillion, or 8.3 percent of GDP.” This seems about right for a banana republic. The bad news is that neither commercial banana cultivation nor a republican form of government has proved viable in this...
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