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1 - 8 of 8 Comments Last updated Apr 22, 2013
CRANK

North East, PA

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#1
Apr 22, 2013
 
http://www.ft.com/intl/cms/s/0/52d23fa6-aa98-...

Ah, the games our government plays to create utopia.

Check out the comments at the end of the article, and consider the caliber of the people reading that particular publication.
TaxNoMore

San Gabriel, CA

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#2
Apr 22, 2013
 
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US economy gets a Hollywood makeover

By Robin Harding in Washington

Brent Moulton, who manages the national accounts at the Bureau of Economic Analysis, told the Financial Times that the update was the biggest since computer software was added to the accounts in 1999.

“We are carrying these major changes all the way back in time

– which for us means to 1929

– so we are essentially rewriting economic history,”

said Mr Moulton.
TaxNoMore

San Gabriel, CA

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#3
Apr 22, 2013
 
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Brent Moulton has served as Associate Director for National Economic Accounts at the Bureau of Economic Analysis since 1997.

He is responsible for the estimation and analysis of the national income and product accounts,

including gross domestic product.

He has authored many professional articles and is a recipient of the Commerce Department's Gold Medal Award for his innovation and leadership in upgrading the U.S. national economic accounts.

Prior to joining BEA,

Dr. Moulton served as Chief of the Price and Index Number Research Division at the Bureau of Labor Statistics where he led major improvements to the consumer price index.

He received a Ph.D. in economics from the University of Chicago.
TaxNoMore

San Gabriel, CA

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#4
Apr 22, 2013
 
Bureau of Economic Analysis employees continue to find ways to meet the changing needs of the businesses and the American people who depend on your work.

In fact, the Bureau’s associate director for the national accounts,

Dr. Brent Moulton,

was just named one of this year’s recipients of the Presidential Rank Award,

a deserving honor for a leader who has made extraordinary contributions to the national accounts program over the past 13 years.
Please join me in congratulating Brent.

Brent has been one of many hard-working employees at BEA as the Bureau plays its central role in meeting challenges ranging from responding to the needs of the Great Depression and mobilizing for World War II to managing the unrivaled expansion of the U.S. economy over the last number of decades.

Not only has your work product changed to keep pace with changing times,

but so have the work methods.

The Bureau has taken advantage of changing technology to produce more comprehensive data faster.

I know you’ve come a long way since the days when national income and product accounts data was pro—

duced by hauling trays full of punch cards to be run through a mainframe computer.

Through the years you’ve taken advantage of faster and more accurate computing power to expand the amount of information available in your statistics.

BEA is a big part of the reason why the United States remains a global leader in national accounting.

Your coworkers will be applauded today for an impressive menu of accomplishments,

from regional customer service during the Recovery Act to developing new statistics for international transactions accounts under strict time constraints.

Still others managed to substantially reduce computer processing times for GDP and other statistics.
TaxNoMore

San Gabriel, CA

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#5
Apr 22, 2013
 

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Moulton received a Ph.D. in economics from the University of Chicago.

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“The numbers [GDP and GDI] do tend to narrow as the data is revised,” says Brent Moulton,

associate director for National Economic Accounts at the Bureau of Economic Analysis,

“though not as much as perhaps we’d like.
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One study does say GDP tends to revise toward GDI, and that would suggest that

the GDI number is certainly worth paying attention to.”

..........

the GDI number

..........
The Gross Domestic Income (GDI) is the total income received by all sectors of an economy within a nation.

It includes the sum of all wages,

profits,

and taxes,

minus subsidies.

Since all income is derived from production (including the production of services),

the gross domestic income of a country should exactly equal its gross domestic product (GDP).

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here comes the Hollywood Magic

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the GDI number

the gross domestic income of a country should exactly equal its gross domestic product (GDP

..........

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Here it comes.........

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President Obama took office in the first quarter of 2009, when median household income was $54,797.63.

As of the last quarter of 2011,

median household income was $52,377.21.

This was the interval Mr. Zandi suggested using to check Mr. Romney’s statement,

and it shows an income drop of $2,420.42.

That’s not $3,000, of course, but it’s still pretty bad.

One could also reasonably argue that it might be more appropriate to use the quarter before Mr. Obama took office as the baseline,

rather than the quarter in which he was sworn in. In the fourth quarter of 2008, median household income was about $55,380.17.

Starting from that quarter gives us a decline of $3,002.96,

almost exactly the number Mr. Romney cited.

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the gross domestic income of a country should exactly equal its gross domestic product (GDP
preppy

Erie, PA

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#6
Apr 22, 2013
 
CRANK wrote:
http://www.ft.com/intl/cms/s/0 /52d23fa6-aa98-11e2-bc0d-00144 feabdc0.html
Ah, the games our government plays to create utopia.
Check out the comments at the end of the article, and consider the caliber of the people reading that particular publication.
The Obammy regime continues to spin, but cold hard reality convicts them of their economic destruction. The sad part is they are doing it deliberately.
TaxNoMore

San Gabriel, CA

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#7
Apr 22, 2013
 
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One study does say GDP tends to revise toward GDI, and that would suggest that

the GDI number is certainly worth paying attention to.”

..........

President Obama took office in the first quarter of 2009, when median household income was $54,797.63.

As of the last quarter of 2011,

median household income was $52,377.21.

This was the interval Mr. Zandi suggested using to check Mr. Romney’s statement,

and it shows an income drop of $2,420.42.

That’s not $3,000, of course, but it’s still pretty bad.

One could also reasonably argue that it might be more appropriate to use the quarter before Mr. Obama took office as the baseline,

rather than the quarter in which he was sworn in. In the fourth quarter of 2008, median household income was about $55,380.17.

Starting from that quarter gives us a decline of $3,002.96

http://economix.blogs.nytimes.com/2012/04/23/...

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the GDI number is certainly worth paying attention to

.......

Obama took office as the baseline,

rather than the quarter in which he was sworn in.

In the fourth quarter of 2008, median household income was about $55,380.17.

Starting from that quarter gives us a decline of $3,002.96

..........

obummer and fellow communists, a four year failure
TaxNoMore

San Gabriel, CA

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#9
Apr 22, 2013
 
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GE is laying off 900 workers. That's the economy booster Obama was talking about!

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Take your meds yoo hoo and pee pee

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