In case you wonder why media thinks the economy is so good 🫡 https://t.co/0GAKoFrahd
— Peter St Onge, Ph.D. (@profstonge) January 2, 2024
The rise of the "Welfare Industrial Complex"
Why are GDP and jobs defying slowdown predictions? Because most new jobs — 56% — are disguised government spending.
In states like Illinois and New York, they make up between 113% and 121% of new jobs.
In other words, the rest of… pic.twitter.com/8NlllM0xTt
— Peter St Onge, Ph.D. (@profstonge) January 2, 2024