Trump Administration and Elon Musk Want to Change How Gross Domestic Product is Calculated

Gross Domestic Product is far from a perfect metric and should not be exclusively looked at the judge economic prosperity.  Is government spending completely meaningless when considering the impact it has on our economy?  The economy has not been doing all that great, the stock market is not doing all that well, the housing market looks stunned, half of consumer spending is done by our top 10% of earners, and ordinary people are suffering.  Meanwhile Trump wants to give a $4.5 trillion tax cut largely to the top earners, supposedly in an attempt to get those savings to trickle down to the rest of us.  The video below wraps all of this up about how the economy is not performing well for ordinary people.

Elon Musk chimed in on his platform X, in response to the Atlanta Fed's analysis that quarterly GDP may contract, to claim that GDP should not include government spending.  His reply had the community insert a community note about how there is already a metric called Value Added by Private Industries (VAPI) that provides that information.  Is our economic wellbeing completely unaltered by our government spending tax revenues?  I'd say no, government spending does have an impact on our economic wellbeing.

---

Comments

---

Latest Articles

---

• A Journalist on The Atlantic Was Invited Into a Signal Chat About Houthi War Plans
• Prices on Automobiles Keep Going Up In America
• The Dumbest Trade War In History
• President Trump Manages to Piss Off Switzerland
• Trump Still Thinks Greenland Will Become Part of the United States
• Is Elon Musk Feeling the Pressure?
• Why Tariffs on China, Canada, and Mexico?
• Surging Job Losses Not Seen Since the Great Financial Crisis