GDP is essentially personal spending + business spending + government spending so GDP depends on all three kinds of spending. One of the things that you don't hear about contributing to our slow recovery from the Great Recession is that government spending is a drag on the GDP (see figure).*
It is seen that during the Obama administration, the effect of government spending on GDP has been negative, except for one year that barely peaked into positive territory. The negative effect of government spending during the Obama administration has been the most negative during the last 50 years, even more so than the recession of the early 1970s. The worst quarter subtracted three-quarters of a percent from GDP. From peak to trough the maximum effect looks like a 0.75% boost (since 1990) to a 0.75% drag on the economy or a range of around 1.5% total change in the GDP that is quite significant.
The large effect of government spending in the 1960s may be due to space programs such as Apollo. For example, the total cost of the Apollo Program in 2008 dollars is $97.9 billion during Fiscal Years 1960-1973. In terms of GDP, the peak year consumed 0.4% of the GDP.** It also consumed 5% of the Federal Budget.
** http://fas.org/sgp/crs/misc/RL34645.pdf
For a newborn to survive at birth, the lungs must have
the capacity to “breathe” and deliver oxygen to the body.
There is abundant evidence that developing lungs are
capable of doing so at approximately 24 weeks of
gestation (although there is inherent variability in
development even at 24 weeks.****
the capacity to “breathe” and deliver oxygen to the body.
There is abundant evidence that developing lungs are
capable of doing so at approximately 24 weeks of
gestation (although there is inherent variability in
development even at 24 weeks.****
In our institution, the average length of stay for a
surviving infant born at 24 weeks estimated
gestational age is approximately 120 days. If you
lower that estimate to 23 weeks and 5 days, the
average length of stay increases to approximately
160 days. A one or two day difference in estimating gestational age may have serious implications,
as it relates to survival chances as well as long-
term complications for the baby. Thus accurate
estimation of gestational age, as mentioned
previously, is critical.****
During a prolonged hospitalization, these
infants are at high risk for developing medical
and/or or surgical conditions including brain
bleeds, recurrent infections, serious damage
to the eyes, perforation or infection in the
intestines, as well as being subjected to multiple
medical interventions to keep them alive. For
the infants who do survive, they often need
multiple hospital revisits. All extremely
premature infants will require early
intervention, to help with their universal
weakness and many other sensory problems.
These interventions are essential to the recovery
process.****
surviving infant born at 24 weeks estimated
gestational age is approximately 120 days. If you
lower that estimate to 23 weeks and 5 days, the
average length of stay increases to approximately
160 days. A one or two day difference in estimating gestational age may have serious implications,
as it relates to survival chances as well as long-
term complications for the baby. Thus accurate
estimation of gestational age, as mentioned
previously, is critical.****
During a prolonged hospitalization, these
infants are at high risk for developing medical
and/or or surgical conditions including brain
bleeds, recurrent infections, serious damage
to the eyes, perforation or infection in the
intestines, as well as being subjected to multiple
medical interventions to keep them alive. For
the infants who do survive, they often need
multiple hospital revisits. All extremely
premature infants will require early
intervention, to help with their universal
weakness and many other sensory problems.
These interventions are essential to the recovery
process.****