Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    Spending is UP!

     

    Real Federal Spending Up $822.90 Per American Since 2008

     

    February 22, 2013 

    (CNSNews.com) - Inflation-adjusted per capita federal spending went up $822.90 from fiscal 2008 to fiscal 2012, according to official data from the U.S. Treasury and the Census Bureau.

    Real federal spending also increased $2437.64 per household between 2008 and 2012.

    In constant 2012 dollars, the federal government spent $3,176,376,470,000 in 2008 and $3,538,446,000,000 in 2012, according to the U.S. Treasury. (The 2008 spending number was adjusted to 2012 dollars using the Bureau of Labor Statistics inflation calculator.)

    On April 1, 2008 (the midpoint in the federal fiscal year which ends on Sept. 30), there were 303,381,938 people in the United States, according to the U.S. Census Bureau, and on April 1, 2012 there were 313,336,712.

    The $3,176,376,470,000 that the federal government spent in fiscal 2008 equaled $10,469.89 for each of the 303,381,938 people who lived in the United States that year. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $11,292.79 for each of the 313,336,712 people who lived in the United States that year.

    Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per person increased by $822.90.

    That means that over the past four years, the federal government has increased its spending on average by about another $206 each year for every man, woman and child in the country.

    There were 111,115,000 households in the country in April 2008 (the midpoint in the fiscal year) and 114,055,000 households in April 2012. The $3,176,376,470,000 the federal government spent in fiscal 2008 equaled $28,586.39 per household. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $31,024.03 per household. Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per household increased by $2437.64.

    That means that over the past four years, the federal government has increased its spending on average by about another $609.41 each year for every household in the country.

    In order to cut real federal spending in fiscal 2013 back to the level it was at in fiscal 2008, the federal government would need to cut actual spending this year to a level that is $362,069,530,000 below what it was last year.

     

     

    CNSNews.com is not funded by the government like NPR. CNSNews.com is not funded by the government like PBS. 

     

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    Looks like these progams have been in place for somewhere between a year and a half and two years. We're now going on five years of Obama's failure to return the economy back to good. Let's see where everyone is in a year from now. I have my suspicions that it might be a little bit different than what it is now.

     

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    In response to tacobreath's comment:

     

     

    Spending is UP!

     

    Real Federal Spending Up $822.90 Per American Since 2008

     

    February 22, 2013 

    (CNSNews.com) - Inflation-adjusted per capita federal spending went up $822.90 from fiscal 2008 to fiscal 2012, according to official data from the U.S. Treasury and the Census Bureau.

    Real federal spending also increased $2437.64 per household between 2008 and 2012.

    In constant 2012 dollars, the federal government spent $3,176,376,470,000 in 2008 and $3,538,446,000,000 in 2012, according to the U.S. Treasury. (The 2008 spending number was adjusted to 2012 dollars using the Bureau of Labor Statistics inflation calculator.)

    On April 1, 2008 (the midpoint in the federal fiscal year which ends on Sept. 30), there were 303,381,938 people in the United States, according to the U.S. Census Bureau, and on April 1, 2012 there were 313,336,712.

    The $3,176,376,470,000 that the federal government spent in fiscal 2008 equaled $10,469.89 for each of the 303,381,938 people who lived in the United States that year. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $11,292.79 for each of the 313,336,712 people who lived in the United States that year.

    Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per person increased by $822.90.

    That means that over the past four years, the federal government has increased its spending on average by about another $206 each year for every man, woman and child in the country.

    There were 111,115,000 households in the country in April 2008 (the midpoint in the fiscal year) and 114,055,000 households in April 2012. The $3,176,376,470,000 the federal government spent in fiscal 2008 equaled $28,586.39 per household. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $31,024.03 per household. Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per household increased by $2437.64.

    That means that over the past four years, the federal government has increased its spending on average by about another $609.41 each year for every household in the country.

    In order to cut real federal spending in fiscal 2013 back to the level it was at in fiscal 2008, the federal government would need to cut actual spending this year to a level that is $362,069,530,000 below what it was last year.

     

     

    CNSNews.com is not funded by the government like NPR. CNSNews.com is not funded by the government like PBS. 

     

     

     

     




     

    Spanky, spanky, spanky... when are you gonna be consistent? Ever?

    Do you believe that, according to the BEA, GDP fell -0.1% in the fourth qtr of 2012?

    If you do then you have accept the numbers that the BEA used to calculate the GDP.

    It ain't freakin rocket science spanky.

    The BEA puts out it's GDP numbers and with it they explain what calculations they used to get to that number.

    So you can't say their final GDP number is correct and at the same time say that every underlying calculation they used to arrive at that number is wrong.

    That's called ideological ignorance and reality don't work that way spanky.

    From the BEA website:

    Real federal government consumption expenditures and gross 
    investment decreased
    15.0 percent in the fourth quarter, in contrast to an
    increase of 9.5 percent in the third.
    National defense decreased 22.2 percent,
    in contrast to an increase of 12.9 percent.
    Nondefense increased 1.4 percent,
    compared with an increase of 3.0 percent.
    Real state and local government
    consumption expenditures and gross investment
    decreased 0.7 percent,
    in contrast to an increase of 0.3 percent.



    Dummy................did spending go UP?   Just answer the question?  Did government spending go UP?

    Is there anyone on earth(besides you) that denies spending went up?  Stop with your insanity.  I get it..........if it rains on every other Friday, and if the stars align on one Tueday per month, and if  the ground hog doesn`t see his shadow, well then........the formula for calculating government spending must change and therefore........um...ah-hem........GDP did not go negative......well...um....cuz I said so.   Right?

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    What in heaven`s name could be easier and simpler to understand than this:

    Real Federal Spending Up $822.90 Per American Since 2008

     

    February 22, 2013 

    (CNSNews.com) - Inflation-adjusted per capita federal spending went up $822.90 from fiscal 2008 to fiscal 2012, according to official data from the U.S. Treasury and the Census Bureau.

    Real federal spending also increased $2437.64 per household between 2008 and 2012.

    In constant 2012 dollars, the federal government spent $3,176,376,470,000 in 2008 and $3,538,446,000,000 in 2012, according to the U.S. Treasury. (The 2008 spending number was adjusted to 2012 dollars using the Bureau of Labor Statistics inflation calculator.)

    On April 1, 2008 (the midpoint in the federal fiscal year which ends on Sept. 30), there were 303,381,938 people in the United States, according to the U.S. Census Bureau, and on April 1, 2012 there were 313,336,712.

    The $3,176,376,470,000 that the federal government spent in fiscal 2008 equaled $10,469.89 for each of the 303,381,938 people who lived in the United States that year. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $11,292.79 for each of the 313,336,712 people who lived in the United States that year.

    Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per person increased by $822.90.

    That means that over the past four years, the federal government has increased its spending on average by about another $206 each year for every man, woman and child in the country.

    There were 111,115,000 households in the country in April 2008 (the midpoint in the fiscal year) and 114,055,000 households in April 2012. The $3,176,376,470,000 the federal government spent in fiscal 2008 equaled $28,586.39 per household. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $31,024.03 per household. Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per household increased by $2437.64.

    That means that over the past four years, the federal government has increased its spending on average by about another $609.41 each year for every household in the country.

    In order to cut real federal spending in fiscal 2013 back to the level it was at in fiscal 2008, the federal government would need to cut actual spending this year to a level that is $362,069,530,000 below what it was last year.

     

     

    CNSNews.com is not funded by the government like NPR. CNSNews.com is not funded by the government like PBS. 

     
     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    In response to tacobreath's comment:

     

    Is there anyone on earth(besides you) that denies spending went up? 

     




     

    Ummm ya, pretty much every professional economist and business analyst.

    And remember numbnuts, these are private sector businessmen, not those political hacks you listen to.

     

    Here are a few:

    Uncle Sam cut spending and businesses drew down inventories in the fourth quarter of 2012, causing the U.S. economy to contract for the first time in more than three years.

    "No one I know would seriously call this an indicator of recession," said Bill Hampel, chief economist with the Credit Union National Association.
     
     It's "the best-looking contraction in U.S. GDP you'll ever see," Paul Ashworth, chief U.S. economist for Capital Economics said in a research note. "The drag from defense spending and inventories is a one-off. The rest of the report is all encouraging."

    A large cut in federal spending, primarily on defense, was one of the biggest drags on growth. Defense spending contracted at a 22% annual rate.

    Still, economists said the seemingly bleak gross domestic product report was not a sign that another recession was looming. The preliminary data showed relatively strong spending by consumers and businesses, even as military spending posted its sharpest quarterly drop in 40 years.

    "This is the tip of the iceberg on fiscal austerity from Washington," said Ethan Harris, co-head of global economics research at Bank of America Merrill Lynch. "It was exaggerated this quarter by the unusually large drop in defense spending."

    Michael Feroli, chief United States economist at JPMorgan.

    Like some other observers, Mr. Feroli said there were hints the economy was performing slightly better than the headline number suggested.


    The 22.2 percent drop in military spending, along with the drop in inventories and exports, outweighed more positive indicators in the private sector, he said. For example, residential investment jumped 15.3 percent, a sign that the housing sector continued to recover. Similarly, investment in equipment and software by businesses rose 12.4 percent, an indicator that companies were still spending.

    For the entire year, the economy grew by 2.2 percent, a slight improvement from the 1.8 percent annual rate in 2011.

    If it were not for the drop in total government spending, the economy would have expanded at an annual rate of 1.2 percent in the fourth quarter, said Nigel Gault, chief United States economist at IHS Global Insight.

    Alan Krueger, chairman of the Council of Economic Advisers, wrote in a blog post that "a likely explanation" for the plunge in military spending was concern among contractors about the automatic spending cuts, which were set to take effect on Jan. 1 but were rescheduled for March 1. The decline in federal spending follows an earlier drop in state and local spending, which fell by 3.4 percent in 2011 and 1.3 percent in 2012.



    THE WORLD= spending went up in Q4/2012 over Q3/2012 and government spending was up year on year and has been up since 2008. The result is a qtr of negative GDP, first since 2008

     

    AIRBORNE= spending went down, I said so, everyone is wrong, I took a hit off the bong so I know, if you take the gravity on Mars and divide it by "Ohm`s Law" and multiply that by the rate of inflation in the 1950`s subtracted from interest rates during the depression, you will see that spending does not effect the GDP..............cuz I said so.

    Does your brain work?

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    In response to tacobreath's comment:

     

    In response to airborne-rgr's comment:

     

    In response to tacobreath's comment:

     

    Is there anyone on earth(besides you) that denies spending went up? 

     




     

    Ummm ya, pretty much every professional economist and business analyst.

    And remember numbnuts, these are private sector businessmen, not those political hacks you listen to.

     

    Here are a few:

    Uncle Sam cut spending and businesses drew down inventories in the fourth quarter of 2012, causing the U.S. economy to contract for the first time in more than three years.

    "No one I know would seriously call this an indicator of recession," said Bill Hampel, chief economist with the Credit Union National Association.
     
     It's "the best-looking contraction in U.S. GDP you'll ever see," Paul Ashworth, chief U.S. economist for Capital Economics said in a research note. "The drag from defense spending and inventories is a one-off. The rest of the report is all encouraging."

    A large cut in federal spending, primarily on defense, was one of the biggest drags on growth. Defense spending contracted at a 22% annual rate.

    Still, economists said the seemingly bleak gross domestic product report was not a sign that another recession was looming. The preliminary data showed relatively strong spending by consumers and businesses, even as military spending posted its sharpest quarterly drop in 40 years.

    "This is the tip of the iceberg on fiscal austerity from Washington," said Ethan Harris, co-head of global economics research at Bank of America Merrill Lynch. "It was exaggerated this quarter by the unusually large drop in defense spending."

    Michael Feroli, chief United States economist at JPMorgan.

    Like some other observers, Mr. Feroli said there were hints the economy was performing slightly better than the headline number suggested.


    The 22.2 percent drop in military spending, along with the drop in inventories and exports, outweighed more positive indicators in the private sector, he said. For example, residential investment jumped 15.3 percent, a sign that the housing sector continued to recover. Similarly, investment in equipment and software by businesses rose 12.4 percent, an indicator that companies were still spending.

    For the entire year, the economy grew by 2.2 percent, a slight improvement from the 1.8 percent annual rate in 2011.

    If it were not for the drop in total government spending, the economy would have expanded at an annual rate of 1.2 percent in the fourth quarter, said Nigel Gault, chief United States economist at IHS Global Insight.

    Alan Krueger, chairman of the Council of Economic Advisers, wrote in a blog post that "a likely explanation" for the plunge in military spending was concern among contractors about the automatic spending cuts, which were set to take effect on Jan. 1 but were rescheduled for March 1. The decline in federal spending follows an earlier drop in state and local spending, which fell by 3.4 percent in 2011 and 1.3 percent in 2012.

     



    THE WORLD= spending went up in Q4/2012 over Q3/2012 and government spending was up year on year and has been up since 2008. The result is a qtr of negative GDP, first since 2008

     

     

    AIRBORNE= spending went down, I said so, everyone is wrong, I took a hit off the bong so I know, if you take the gravity on Mars and divide it by "Ohm`s Law" and multiply that by the rate of inflation in the 1950`s subtracted from interest rates during the depression, you will see that spending does not effect the GDP..............cuz I said so.

    Does your brain work?

     




    Heh...heh...heh...Thanks for proving how self-delusional and ideologically ignorant you are, especially in a post where I quote half-a-dozen economists from some of the largest financial firms in the country.

     

    Yep, nothing like keeping your head tucked up your rectum.

    How can anyone take you seriously, especially in a post with 1/2 dozen direct quotes from professionals telling you you're a fvcking idiot.

    Yep, that's what narcissistic, self-delusional people do ignore the experts because now, in your mind, your a world class economist.

     

    I'm done laughing at you.

    The only thing self-delusional people are good at is regurgitating the same echo chamber diarhea, over and over again, even as professional, private enteprise economists tell you point blank, you don't have a clue.

    But nope, you just block your ears and sing "La,La,La...I can't hear you."

    well have fun in that alternate universe you've created for yourself. Must be fun telling yourself stories...and believing them

     

     

    La, La, La, La......

    Freakin HILARIOUS!!!!!!!!!!!!!!



    Hey maybe you`re right and the ENTIRE world is wrong.   We forgot to factor in the expense of the government for your mama`s booze and your meds.  THAT`S IT!  HOW COULD WE HAVE BEEN SO BLIND?  There`s no negative GDP.  The government didn`t spend more than they`ve ever spent................we have to take out the dollars we spend on airborne`s drugs and his mama`s booze and condoms.  After we minus that out................we in fact didn`t spend more in Q4 than Q3.

    I should have known it.

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    Heh, heh, heh....Here ya go spanky. If you don't believe the BEA or 6 worldclass professional economist maybe you'll believe the very first table from your own source.

    What do the last two totals in the "Total Spending" column say?

    Let me help you out.

    2011.....3,666

    2012.... 3,563

    For a NET DECREASE in fed spending of $103 billion dollars.

    Thanks for playin.



    Stupid, the chart is from ...........wait for it......AUGUST 23, 2012!!!!!!   An ESTIMATE from AUGUST!!!!!!

    The actual numbers from FEBRUARY 22, 2013 (yesterday) confirm in no uncertain terms the truth.  Put down the booze and the drugs!

    Here they are again you brain dead booze bag dolt:

    From YESTERDAY!!!!!

    Real Federal Spending Up $822.90 Per American Since 2008

     

    February 22, 2013 

    (CNSNews.com) - Inflation-adjusted per capita federal spending went up $822.90 from fiscal 2008 to fiscal 2012, according to official data from the U.S. Treasury and the Census Bureau.

    Real federal spending also increased $2437.64 per household between 2008 and 2012.

    In constant 2012 dollars, the federal government spent $3,176,376,470,000 in 2008 and $3,538,446,000,000 in 2012, according to the U.S. Treasury. (The 2008 spending number was adjusted to 2012 dollars using the Bureau of Labor Statistics inflation calculator.)

    On April 1, 2008 (the midpoint in the federal fiscal year which ends on Sept. 30), there were 303,381,938 people in the United States, according to the U.S. Census Bureau, and on April 1, 2012 there were 313,336,712.

    The $3,176,376,470,000 that the federal government spent in fiscal 2008 equaled $10,469.89 for each of the 303,381,938 people who lived in the United States that year. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $11,292.79 for each of the 313,336,712 people who lived in the United States that year.

    Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per person increased by $822.90.

    That means that over the past four years, the federal government has increased its spending on average by about another $206 each year for every man, woman and child in the country.

    There were 111,115,000 households in the country in April 2008 (the midpoint in the fiscal year) and 114,055,000 households in April 2012. The $3,176,376,470,000 the federal government spent in fiscal 2008 equaled $28,586.39 per household. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $31,024.03 per household. Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per household increased by $2437.64.

    That means that over the past four years, the federal government has increased its spending on average by about another $609.41 each year for every household in the country.

    In order to cut real federal spending in fiscal 2013 back to the level it was at in fiscal 2008, the federal government would need to cut actual spending this year to a level that is $362,069,530,000 below what it was last year.

     

     

    CNSNews.com is not funded by the government like NPR. CNSNews.com is not funded by the government like PBS. 

     
     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to bald-predictions' comment:

    European countries did not adopt austerity because they wanted it . They did so because they were broke.

    The hope is that if we can show some responsibility now we can avoid that and not collapse in the future.



    BINGO!!

    The European countries adopted austerity as a matter of choice is simply put, wrong.  As you point out, some countries simply are broke.  that's not austerity, that's being broke.

    Liberals, and particularly liberals posting here, do not understand economics and/or reality.

     

     
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