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|User Info||No, GDP Did *NOT* Advance; entered at 2018-10-07 13:48:11|
Registered: 2014-05-19 Chic
The CBO has a monthly Budget review which was released Friday
It shows the budget deficit and actually shows the cash flow deficit in the same report showing outlays and receipts.
One line of receipts is payroll taxes
As we know, payroll taxes is the employee and employer remitted amounts on actual earnings reported and paid.
For the fiscal year ended 9/30/18, the preliminary numbers show 0.7% of increase over FYE 9/30/17.
This dispells that people are making more money and it might say fewer people are working than thought, or--more people are working but earnings less.
Either way it does not support good jobs growth and does not supprt economic growth, err, real exconomic growth
we know apple is raising prices by going to newer models which do not add much but graviate to the above $1.000 price. Apple is also discontinuing hte lower cost models like the SE and 6 and now its least expensive model is a 2 year old technology IPhone 8 at a mere $599.
Apple is pushing inflation as its not groing unit sales of Iphones or Ipads.
My point is most of the growth if not all or more than all is due to pricing whether inflationary or "improvememnts".
I do not consider a 6.7 inch screen an improvement i have to pay for since I kind of liked putting a 4 inch smart phone in my pocket. Problem is nobody is making a 4 in anymore and it looks like th I8 is th eonly 4.7 inch being produced now.
My point is looking down from 50,000 feet we are not seeing real growth we are seeing price growth. If payroll taxes are flat--it is a huge problem in many ways including that the excess of soc sec and medicare spending in FY 18 over tax recipts is about $500 billion. And growing. The ponzi schele is dying on the vine
Simpson and bowles said 10 years ago we needed to cut spending and raise taxes.
That might be true but better said the cutting of spending could come from cutting waste, whether conference room tables for McCabe, health care basic costs ala Karls methodolgy, $600 wrenches, or anything.
My old medical practice was merged into one of hte big hospotal groups. They went from a small crowded office of 9 doctors and support staff, to a glamorous campus 5 story building and guess who pays for that??/
I started with the practice in 1976, on my 4th doctor all of who I appreciated. They were and are old school and cost conscious and looking to solve issues.
The good thing now is when I am in waiting room its so large I do not have to sit near anyone--probably 150 chairs and I have never seen more than 3-4 patients there.
I understand its important to have clean facilities with technology, but I do not understand walking 50 feet for everything, nor do I understand the reason to have a 50 acre vista from the waiting room.
but then again I am over 70 and there are a lot of things I do not understand.