Being a political and economic news junkie, I closely watch the cable channels for developments on many news topics. While there is no shortage of news, there are several important items about which little has been forthcoming.
Among them:
• The arbitrary Gross Domestic Product algorithm tells us we are in a tepid recovery. Yet federal spending seems to be counted as a positive while, to my knowledge, there is no adjustment for the amount of borrowing to cover the deficit. What would GDP be if there were deductions for the deficit?
• One of the most closely watched economic indicators is the unemployment rate. Comparisons to the recession that existed when Reagan took office are often made that would appear to indicate the recent recession was less severe. What has been omitted is that the algorithm for the calculation was changed in 1993 such that, if we used the previous method today, we would see a much higher percentage.
• We often hear the Tea Party characterized as an extreme-right organization. As a member, I can safely assert that since we have a neutral position on social issues, we should be considered more of a centrist movement. Many of the more prominent members have a further-right position on some social issues, but that is their personal choice.
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There are more.
Jim Freeman
Kasson
