When two of US President Donald Trump’s top lieutenants issued a call to remove government spending from the nation’s most-watched gauge of economic growth, they waded into an old and fierce debate that goes far beyond statistics.
Howard Lutnick's remarks came in response to concerns over whether the spending cuts advocated by Elon Musk's Department of Government Efficiency (DOGE) might lead to a recession.
Sen. Elizabeth Warren (D-Mass.) on Monday questioned Secretary of Commerce Howard Lutnick over the access tech billionaire Elon Musk’s Department of Government Efficiency (DOGE) has to his competitors and business partners.
Commerce Secretary Howard Lutnick said Sunday that government spending could be separated from gross domestic product reports in response to questions about whether the spending cuts pushed by Elon Musk’s Department of Government Efficiency could possibly cause an economic downturn.
Commerce Secretary Howard Lutnick plans to make an internet infrastructure investment program “technology-neutral,” according to The Wall Street Journal, meaning Elon Musk’s Starlink could more easily benefit.
The Trump administration may exclude government spending from GDP, obscuring the impact of DOGE cuts
Howard Lutnick said Sunday that government spending could be separated from gross domestic product reports in response to questions about whether the spending cuts pushed by Elon Musk’s Department of Government Efficiency could possibly cause an economic downturn.
Elon Musk’s Starlink could receive up to $20 billion in government funding if the Commerce Department goes ahead with plans to rip up the rule book on rural broadband contracts, according to the Wall Street Journal.
When two of US President Donald Trump’s top lieutenants issued a call to remove government spending from the nation’s most-watched gauge of economic growth, they waded into an old and fierce debate that goes far beyond statistics.
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The New Republic on MSNIt’s Kind of Fitting that Musk Now Wants to Cook the Books on GDPHeterodox economists have long criticized politicians’ maniacal obsession with GDP growth, pointing to its relatively recent creation as a measure of national accounts and its limits as a catch-all indicator of a country’s economic health.
Commerce Secretary Howard Lutnick wants to separate government spending from GDP, which economists worry could lead to cherry-picking data for political gain.
Under new rules from President Trump’s Commerce Department, a $42 billion high-speed internet effort will no longer favor fiber-optic cable.
The stock market dropped sharply in recent days as investors worried about the effects of new tariffs on Canada and Mexico by President Trump.
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