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18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Wed Oct 16, 2013 9:39 pm
by DSUrocks07
Faux recovery indeed...
Government Shutdown Cost $24 Billion, Standard & Poor's Says
WASHINGTON -- The government shutdown has taken at least $24 billion out of the United States economy, the financial ratings agency Standard & Poor's said Wednesday.
The firm said the shutdown caused it to cut its forecast of gross domestic product growth in the fourth quarter by at least 0.6 percentage point. The agency lowered its estimate for GDP growth to close to 2 percent from 3 percent.
The estimate represents a staggering cost to the economy of a completely self-inflicted political catastrophe. Unlike the 2008 economic crisis and other past recessions, the government shutdown had nothing to do with larger economic trends. The numbers show Washington's brinksmanship caused real damage beyond furloughed government workers and the Washington, D.C., region.
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 4:07 am
by kalm
If we privatized things like National Parks, WIC, and DOD contracting offices we wouldn't have this problem.
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 4:27 am
by Baldy
kalm wrote:If we privatized things like National Parks, WIC, and DOD contracting offices we wouldn't have this problem.
Or if...we...nevermind.
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 6:07 am
by CitadelGrad
Those numbers don't make sense. I call bullshit.
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 11:05 am
by DSUrocks07
CitadelGrad wrote:Those numbers don't make sense. I call bullshit.
They don't at all. Which makes it even more nefarious. Either they are true and its really been a faux, full government intervention recovery. Or they are made up and the "evil corporations" are in bed with Obama. (Which is a given, but don't tell the donks that.)
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 11:11 am
by Pwns
So 1/3 of the growth of the economy would be from 18% of government spending? If that's true, we have bigger problems than the fourth quarter GDP growth.
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 11:21 am
by kalm
DSUrocks07 wrote:CitadelGrad wrote:Those numbers don't make sense. I call bullshit.
They don't at all. Which makes it even more nefarious. Either they are true and its really been a faux, full government intervention recovery. Or they are made up and the "evil corporations" are in bed with Obama. (Which is a given, but don't tell the donks that.)
Smart evil corporations are in bed with both parties.
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 3:22 pm
by 93henfan
kalm wrote:If we privatized things like National Parks, WIC, and DOD contracting offices we wouldn't have this problem.
Many DoD contracting offices are already privatized to the maximum extent practicable. The contract specialist/buyer role can be (and is in many cases) contracted out. My job, contracting officer, cannot be privatized because it is an inherently governmental function. I'm the guy who approves everything and signs the contract on behalf of the government. It would be an obvious conflict of interest to have a contractor letting contracts on behalf of the government.
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 4:18 pm
by Col Hogan
93henfan wrote:kalm wrote:If we privatized things like National Parks, WIC, and DOD contracting offices we wouldn't have this problem.
Many DoD contracting offices are already privatized to the maximum extent practicable. The contract specialist/buyer role can be (and is in many cases) contracted out. My job, contracting officer, cannot be privatized because it is an inherently governmental function. I'm the guy who approves everything and signs the contract on behalf of the government. It would be an obvious conflict of interest to have a contractor letting contracts on behalf of the government.
Hey 93...I got a form that just needs an accounting code and a signature...if I send it to you, can you hook a brother up???
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Thu Oct 17, 2013 4:48 pm
by 93henfan
Col Hogan wrote:93henfan wrote:
Many DoD contracting offices are already privatized to the maximum extent practicable. The contract specialist/buyer role can be (and is in many cases) contracted out. My job, contracting officer, cannot be privatized because it is an inherently governmental function. I'm the guy who approves everything and signs the contract on behalf of the government. It would be an obvious conflict of interest to have a contractor letting contracts on behalf of the government.
Hey 93...I got a form that just needs an accounting code and a signature...if I send it to you, can you hook a brother up???
Nope!
That's your comptroller, another inherently governmental function. I can only spend money after the comptroller makes it available. I'm in the same boat as you, waiting for the money to flow down.
Man, life would be so much easier if Congress would pass a real budget. I miss the days of full year funding. This stopping and starting kills the mission and costs so much time, money, and heartache.
Re: 18% of gov't spending accounts for 0.6% 4th quarter GDP
Posted: Fri Oct 18, 2013 6:10 pm
by kalm
93henfan wrote:kalm wrote:If we privatized things like National Parks, WIC, and DOD contracting offices we wouldn't have this problem.
Many DoD contracting offices are already privatized to the maximum extent practicable. The contract specialist/buyer role can be (and is in many cases) contracted out. My job, contracting officer, cannot be privatized because it is an inherently governmental function. I'm the guy who approves everything and signs the contract on behalf of the government. It would be an obvious conflict of interest to have a contractor letting contracts on behalf of the government.
Assumed as much. Just being satirical. I don't think some people appreciate how much the government is responsible for.