Something scary that I just noticed about Western economy, It was reported that the American GDP in USD only grew 0.03% in size in 2001. No big problem, right?

[Julius Seeker]

<div style='font: 12pt ; text-align: left; '>According to the CIA World Fact Book, the US GDP is currently worth 10.082T (similar to 2000's report which was 10.052T and 1999's which was 10T even estimate), it grew 0.3% in 2001.....

Yet the inflation rate in the US is 2.8% according to the CIA World Fact Book. Now it seams to me that the inflation rate isn't calculated into those GDP growth rates, since it is using updated USD as its forum of economic measurement. Going by 2000's money value, the GDP is currently worth 9.7997T USD, that's a 282.296 billion USD decline. I am not really sure if this is common knowledge or not (It seamed that most American's here knew the economy was on the decline), but wouldn't you prefer it if the government would include the inflation in their reports?

PS, I am assuming they are basing the GDP on 2000USD rates for 2000, and 2001USD rates for 2001. There is absolutely no indication that they haven't.</div>

[Flip]

<div style='font: 12pt "Cooper Black"; text-align: left; '>I think its common knowledge that the average inflation is 3%.</div>

[Ishamael]

<div style='font: 14pt "Sans Serif"; text-align: justify; padding: 0% 15% 0% 15%; '>In addition to what Flip said, it's also common knowledge that the value of the dollar declines slightly every year...</div>

[Ishamael]

<div style='font: 14pt "Sans Serif"; text-align: justify; padding: 0% 15% 0% 15%; '>Hmm, well I guess one sorta implies the other, so I guess I have nothing to add. Ummm, carry one. :)</div>

[Ishamael]

<div style='font: 14pt "Sans Serif"; text-align: justify; padding: 0% 15% 0% 15%; '>Hmm, well I guess one sorta implies the other, so I guess I have nothing to add.  Ummm, carry on. :)</div>

[Julius Seeker]

<div style='font: 12pt ; text-align: left; '>It's that the government seams to be leaving that out of the GDP calculations since they are basing the numbers on USD which is not static in value. So in reality, the GDP is actually shrinking by about 3% per year if there was a static value we could compare it to. Is that common knowledge among Americans? If it is, then I did this research for nothing =)

Then again, the government still should post accurate reports.</div>

[SineSwiper]

<div style='font: 11pt "EngraversGothic BT", "Copperplate Gothic Light"; text-align: left; '>I fail to understand how tax cuts and $80 billion wars is supposed to help the economy.</div>