GDP Germaneness

In 19Q1, US GDP was $21.06 trillion. The largest part was consumption, which totaled $14.25 trillion or 67.7% of GDP. Investment in structures, equipment and intellectual property was $3.81 trillion or 18.1%; government spending was $3.60 billion or 17.1% of GDP. Finally, net exports were -$603.4 billion, or -2.9%; we run a trade deficit. Consumption matters because it’s huge. Government spending matters because Congress can dramatically alter its size.

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