Yesterday I read BBC reports of better than expected US economic growth in the third quarter.
“The world’s largest economy expanded at an annualized rate of 2% in the third quarter, the Commerce Department said. The jump was partly due to a large increase in government spending.”
It is just the sort of news that could boost Obama’s chances of defeating Romney on November 6th, bring the hope that the US might have be coming out of the worst of it. But look at the figures.
“Federal government expenditures and gross investment increased 9.6% compared with the previous quarter, while national defence spending rose by 13%.”
A suspicious mind might conclude that Federal expenditure and investment and especially defence spending have been deliberately jacked up to give a positive (and exaggerated) figure for growth just ahead of the election. And the incumbent is in a position to do that.
Filed under: Updates |
Madsen Pirie 