Lost prosperity

Few things cause the eye to glaze over more than economic statistics, particularly when discussing all but incomprehensible sums in the billions and trillions of dollars.  There are two statistics which the public should be aware of more than others; they are 1) Gross Domestic Product (total economic output of the country); and 2) The Net Gross Domestic Product per Person (The GDP less the amount of government spending at all levels divided by the total population).The Net GDP per person recognizes the impact of federal, state and local spending on the economy.Ideally the net amount each citizen realizes of the GDP should increase every year adjusted for inflation.  That is an indicator of private wealth creation, higher personal incomes and a healthy economy.  Despite minor ups and downs the overall trend in an eight year period should always be on the positive side and normally has been over the past twenty-five years.However, in reviewing the actual and projected GDP...(Read Full Article)