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View Full Version : Bachmann surprises Beck with stat on government piece of economy pie



megimoo
10-14-2009, 05:15 PM
A statistic from Michele Bachmann made Glenn Beck go, “Whoa!” on his radio show Wednesday morning: “The federal government owns or controls 30 percent of private wealth” in America. Beck exclaimed that the stat was new to him and even to his aghast studio crew.

Where’d she get that? Bachmann (again) cited as her source an unnamed Arizona State University professor. The Minnesota Independent found the prof and asked him where he got the number.

It wasn’t through Nobel Prize–level methods, Prof. William Boyes told MnIndy by email:

I simply added up how much of GDP [gross domestic product] was govt run or govt controlled. I gave an approximation that is pretty conservative. I suspect the actual number is more like 40%; if health care goes through then it will rise to over 50%.

snip

William Boyes, an economics professor at the W.P. Carey School of Business at Arizona State University, estimates that the government now owns or controls businesses that generate about one-third of U.S. economic activity.

http://minnesotaindependent.com/47102/bachmann-beck-boyes-government-gdp

lacarnut
10-14-2009, 05:26 PM
That figure probably does not take into account real estate the government owns or controls.