Semi-Daily Journal Archive

The Blogspot archive of the weblog of J. Bradford DeLong, Professor of Economics and Chair of the PEIS major at U.C. Berkeley, a Research Associate of the National Bureau of Economic Research, and former Deputy Assistant Secretary of the U.S. Treasury.

Sunday, July 09, 2006

I Don't Think That Word Means What You Think It Means

Glenn Reynolds quotes Larry Kudlow, who he has "always found... reliable":

Instapundit.com - : LARRY KUDLOW:

Did you know that just over the past 11 quarters, dating back to the June 2003 Bush tax cuts, America has increased the size of its entire economy by 20 percent? In less than three years, the U.S. economic pie has expanded by $2.2 trillion, an output add-on that is roughly the same size as the total Chinese economy, and much larger than the total economic size of nations like India, Mexico, Ireland, and Belgium.

It's news to me.

UPDATE: Reader Daniel Amerman says that Kudlow didn't include inflation, and that if you include inflation, the U.S. economic expansion was "only" 11.4 %. As Amerman says, "11.4% over 11 quarters is quite respectable in real terms, there is no need for misrepresentation and hyperbole."...

Hmm. I've always found Kudlow to be reliable.

Glenn: "Reliable" does not mean "comfortably in accord with my politics." Check your dictionary. Kudlow is comfortably in accord with your politics. Kudlow is not reliable: verify before trusting, always.

And read The Princess Bride.

0 Comments:

Post a Comment

<< Home