How Not To Measure The U.S. Economy
When Congress and the White House finally put aside their bickering over the budget and reopen the government, one of the first things the Commerce Dept. will do is issue sweeping changes to its flagship measure of economic performance, gross domestic product. The new data attempt to give a more accurate picture of GDP, and in the new Information Age, we applaud any government effort to provide better information. Problem is, the new GDP benchmark, at least for now, lowers economic growth rates, moving us further away from the truth instead of closer to it.
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