Dan Scanlan: On Sep 7, 2005, at 12:06 PM, Leigh Meyers wrote: In a preliminary report to lawmakers, the CBO said Katrina could dampen real gross domestic product growth in the second half of the year by one-half to 1 percentage point.
Does this statement from the Congressional Budget Office operate from the unstated basis that the upcoming massive efforts to make people's lives whole again don't count as part of the econometrics, that unless something is produced that can be sold at profit to a capitalist it doesn't count as part of the nation's real domestic growth? I dunno how they "Spread their Sheets" when they make these pronouncements, but the snippet below seems to indicate that only certain businesses will benefit. [The people's llives will be made whole again when they re-enter the consumer mainstream] http://www.sacbee.com/24hour/nation/story/2695746p-11241836c.html WASHINGTON (AP) - The federal government plans to begin doling out debit cards worth $2,000 each to adult victims of Hurricane Katrina, The Associated Press has learned. Homeland Security Department Secretary Michael Chertoff descibed the plan in a conference call with state officials Wednesday morning. The unprecedented cash card program initially will benefit stranded people who have been moved to major rescue centers such as the Houston Astrodome. <...> If I guess right, these aren't credit cards... They're like food stamp/AFDC benefit cards, usable for authorized items at authorized locations... Like the Astrodome's hot dog stand where you will be able to buy candy bars, but not vitamins or heated food [snicker]. Food Stamp regulations... really! Leigh
