Debt and Taxes: This is No Time to Cut Federal Spending

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Originally Posted by ChumpDumper

Sure, the trick would have been avoiding massive government spending during the economic expansion of the 2000s.

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I don't think anyone will argue that the Bush regime was fiscally conservative.

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Originally Posted by DarrinS

I don't think anyone will argue that the Bush regime was fiscally conservative.

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Exactly.

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Originally Posted by DarrinS

Dude grabbed a simple GDP equation from wikipedia. I hope the people in Washington who are "holding the purse strings" have better tools.

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You're focusing on the prop, D. RG used it to make a point. The substance of that point remains unaddressed by you. Just saying. Throwing out common sense as a sop for common sense doesn't really cut it.

Would it have been better had he found the equation on YouTube?

While he's pretending to have a conversation with us, he can at least pretend to pay attention to what people say. I don't think that's too much to ask.

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Originally Posted by DarrinS

TARP was probably necessary. The "stimulus" package? Not so much.

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Socialism for megabanks? A necessary evil.

For me and thee?

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Run, you dogs!

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/Doug Moe

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Originally Posted by DarrinS

Dude grabbed a simple GDP equation from wikipedia. I hope the people in Washington who are "holding the purse strings" have better tools.

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For what? Measuring the GDP? The GDP is what the GDP is. Thats like saying I hope congress has a better way of adding 2+2 because I'm not sure it equals four.

GDP IS an equation.

Hey guys, I hope Congress has a better tool for measuring the area of a circle and I hope they're not just using that silly equation on Wikipedia.

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Originally Posted by MannyIsGod

For what? Measuring the GDP? The GDP is what the GDP is. Thats like saying I hope congress has a better way of adding 2+2 because I'm not sure it equals four.

GDP IS an equation.

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Apparently, GDP is several equations.

http://en.wikipedia.org/wiki/Gross_domestic_product

I hope that DarrinS knows how to write code to embed videos, and he's not just using YouTube.

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Originally Posted by MannyIsGod

Hey guys, I hope Congress has a better tool for measuring the area of a circle and I hope they're not just using that silly equation on Wikipedia.

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Don't be retarded.


You know, you can create any equation you want. Say you want to have a metric for the energy released by a fart. You could call it Manny's bean factor (or MBF).

MBF = v + t + m

where v = volume (in decibels)
t = temperature (Fahrenheit)
m = percent methane content



Please don't compare something as pure as the area of a circle with something as apparently useless as GDP.

GDP is what GDP is. Whether or not you find it a useful tool does not have an impact on what the equation is for GDP and its legitimacy. I don't believe anyone here ever claimed it to be a perfect metric or the end all be all of economics but the fact is that GDP is an equation and RG gave you that very equation.

One I posted earlier today, the Drake equation

http://en.wikipedia.org/wiki/Drake_equation


http://upload.wikimedia.org/math/8/4...a0054683de.png

where:

N = the number of civilizations in our galaxy with which communication might be possible;
and

R* = the average rate of star formation per year in our galaxy
fp = the fraction of those stars that have planets
ne = the average number of planets that can potentially support life per star that has planets
fℓ = the fraction of the above that actually go on to develop life at some point
fi = the fraction of the above that actually go on to develop intelligent life
fc = the fraction of civilizations that develop a technology that releases detectable signs of their existence into space
L = the length of time such civilizations release detectable signals into space.





Pretty fancy, huh? Not quite as useful as the formula for the area of a circle.

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Originally Posted by MannyIsGod

GDP is what GDP is. Whether or not you find it a useful tool does not have an impact on what the equation is for GDP and its legitimacy. I don't believe anyone here ever claimed it to be a perfect metric or the end all be all of economics but the fact is that GDP is an equation and RG gave you that very equation.

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Actually, it has a definition and 3 different ways of estimating it.


Do you think it's wise to have massive govt spending during a deep recession? After all, that GDP equation indicated that it would increase GDP.

Darrin has progressed (regressed? you make the call) from youtubes to random equations.

Bum was right. Its the Chewbacca defense.

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Originally Posted by DarrinS

Actually, it has a definition and 3 different ways of estimating it.


Do you think it's wise to have massive govt spending during a deep recession? After all, that GDP equation indicated that it would increase GDP.

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Yes, I subscribe to Keynesian Economics.

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Originally Posted by DarrinS

You know, you can create any equation you want. Say you want to have a metric for the energy released by a fart. You could call it Manny's bean factor (or MBF).

MBF = v + t + m

where v = volume (in decibels)
t = temperature (Fahrenheit)
m = percent methane content
.

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Are you aware that the result of the formula/equation has to make sense, and remain consistent, in order for the equation to be useful?

Are you sure you know how math works DarrinS? :lol

Although I will say that Drake Equation seems to be a great example of a useless equation, as half of the factors seem to be conjecture at best.

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Originally Posted by LnGrrrR

Are you aware that the result of the formula/equation has to make sense, and remain consistent, in order for the equation to be useful?

Are you sure you know how math works DarrinS? :lol

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I prefer equations that I can verify through measurement. With something like GDP, I'll just have to take someone's word for it.


And you are right. Units should all be the same or they should all be unitless.

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Originally Posted by LnGrrrR

Although I will say that Drake Equation seems to be a great example of a useless equation, as half of the factors seem to be conjecture at best.

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Exactly.

Excellent. We can agree the Drake equation is of little use to us in this discussion. I'm glad Darrin was able to bring forth such a relevant observation.

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The Drake equation sidebar: please wake me when it's over.

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