hi doma,
i guess you think government consumption is a wicked thing. that somehow it doesn't count.
but actually, in normal circumstances, government will contribute to consumption increases. prices have risen by more than 0%. the population expands. etc.
the contribution of government to consumption is not extravagant here.
but, as i have suggested all along, government belt-tightening has been a drag on the economy for several years. this would have been a great time to build the infrastructure of the twentieth century. instead, they have been cutting.
but using the same doctrine as obama has been employing, as the economy stabilises, government expenditure should begin to rise. so ...
i think you are just raining on the parade because you want things to be gloomy.
but actually, they are a wee bit better today. as they are in the uk, with its olympian 1% gdp growth in q3.
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