Cooking the Nations GDP Books, should have been the headline today in the Tennessean instead of “Commerce secretary gives Music Row good news”.

From the Tennessean:

The Commerce Department started counting arts and entertainment products in the GDP— a key measure of the nation’s economic output — just last week.

“Instead of viewing a new album as an expense to our economy, we now view it as an asset, because it supports jobs and generates revenue for years to come,” U.S. Commerce Secretary Penny Pritzker said during opening remarks to music industry executives and songwriters at Nashville Songwriters Association International.

“We’re doing our part to finally recognize how important what each of you do is.”
http://www.tennessean.com/article/20130807/NEWS02/308070140/1969/NEWS

THIS MODIFICATION HAS “INCREASED” THE GDP BY 3.6%

Last week, the U.S. Bureau of Economic Analysis released its latest gross domestic product (GDP) accounting method, and calculation by redefining entertainment, research and development as well as pension and other projects, the total GDP of the United States last year, an increase of 3.6%.

SOURCE:
U.S. GDP statistical methods to modify or subvert history:

U.S. GDP statistical methods to modify or subvert history – Finance News.