For the first time in four years, the Commerce Department will revise its estimates of U.S. gross domestic product — the value of U.S.-made goods and services — back to 1929. The biggest of the changes affect money spent on research and development and on artistic endeavors such as writing books or filming TV shows.
For the first time, R&D spending and money spent on the arts will count in GDP — if they’re intended to generate long-term streams of income, such as a decade or more of drug sales or profits from syndicated reruns of a hit TV show.
That led the government to decide that spending on TV comedies and dramas — such as Seinfeld — will count, but game shows and reality shows, such as Keeping Up With the Kardashians, will not, because they have a limited syndication market.
Fewer young adults are working full time. Politicians are arguing about whether it’s better to have millions employed at starvation wages or risk making them unemployed by giving them a living wage. Official unemployment might be down, but employment is not up. Toyota is giving logistics help to charity rather than actual money (clearly they needed it but still). And government safety nets — that RepubliCANTs want to cut, are the only thing keeping millions of people out of poverty.
Oh well, at least we don’t have to add the Kardashians to GDP.
In Closing: silly women clearly don’t know what men think is good for them; turns out that when you treat kids like criminals, they live up to your standards; anyone surprised?; and the Burka Avenger.