Romney is absolutely right

GDP = Expenditure = Income

All production is sold, if its not sold its not counted. Stored inventory is treated as a capital expenditure for example. Why? It wasn't sold.

So a firm pays a worker a $1 to make a product it sells for a $1. $1 is added to GDP because someone thought enough of it to spend a dollar on it and got the goods or service in return.

Same firm pays a $1 to make a product it sells for a $2. Now $2 is added to GDP. One $1 spent turns into $2 of GDP because the $1 was converted to something another valued at $2. Then some one takes that $2 and converts it to $3. Someone converts the $3 to $4 and enough of this occurs and economists start charting it in models and coming up with "multipliers" to make economic predictions. Folks are using labor and thought to create value in excess of the origional cost and this effect can be measured as a multiplier.

Now here is where the wheels came off the Liberal cart and with it the US recovery from the Bush recession under Obama:

If the Gov takes a dollar, pays a worker to dig a hole and fill it back up, this is counted as $1 by NIPA. Then Leftwing nitwits take the multiplier from the first scenario and try to apply it to the second scenario claiming if only the Government will lavish out a $Trillion, prosperity will result thanks to the magic of the "multiplier". It flopped as we all told you it would, any one with a brain would see that it would. The Left doesn't have a brain, and can't admit it failed and loves to take other peoples money and spend it so they want to double down on the first flop. Trouble is, they are having difficulty justifying the additional debt increase so now they are pretending there is a magic pile of money that held by "rich folks".

If only the GOP would let the Dems tax "Rich Folks" the Dems could bring about prosperity through scenario 2, which didn't work last time and won't work this time, so no, we aren't interested.

He only cares about putting money in the pockets of corporations who will then move it overseas...

quote:

Originally posted by Whyisit:
He only cares about putting money in the pockets of corporations who will then move it overseas...

I read this and realize the left are twits.

You really think you can simply just kick and scream and demand other peoples money and the American people will just say "okay" to shut up the tantruming child?

quote:

Originally posted by Zorro:

quote:

Originally posted by Whyisit:
He only cares about putting money in the pockets of corporations who will then move it overseas...

I read this and realize the left are twits.

You really think you can simply just kick and scream and demand other peoples money and the American people will just say "okay" to shut up the tantruming child?

Actually, most of the left, at least the ones who are schooled in economics have placed you on ignore.

The left is not demanding other people's money. People are asking for jobs and the right to access health care. JOBS put money in their pockets The Republican Congress simply will not allow our government to implement the necessary policies for job growth. Everyone knows this now and you guys are gonna lose an election because of it.

If you can't argue a topic, you change the topic, I think I will join the experts in ignoring you.

Peachy

quote:

The left is not demanding other people's money.

Yes you are.

quote:

The Republican Congress simply will not allow our government to implement the necessary policies for job growth. Everyone knows this now and you guys are gonna lose an election because of it.

You folks claim that, but you are full of crap and I expect you will lose both the Congressional and the Senate elections. You claim the money is on you folks?

That is easy enough to check:

Intrade.com

House:
GOP Wins - Odds 75/100

Senate:
GOP Wins - Odds 76/100

The money is clearly and convincingly on a GOP sweep of both Houses. If what you claim is true, why is that?