see triffen's dilemma...............From Forbes
By Louis Woodhill
''During the 22 years from 1952 through 1973, our economy grew at a real
average rate of 3.81%. Over the subsequent 37 years, U.S. real GDP
growth averaged 2.68%. If our economy had grown at the same rate 1974 –
2010 that it did 1952 – 1973, America’s real GDP ($2011) would have
been $22.2 trillion in 2010, a full 50% higher than the actual result of
$14.8 trillion. Federal revenues in 2010 would have come in at about
$4.1 trillion, and the federal budget would have shown a $0.6 trillion
surplus instead of a $1.5 trillion deficit, despite our current
excessive level of federal spending.''
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