Question of GDP

[Rustic23]

In this article:

Houston edges out Dallas in GDP race | Dallas Morning News | News for Dallas, Texas | Business

It states the GDP of several cities. Now it does not surprise me that New York, LA, Dallas, Houston and such are on the list, but, what does Washington D.C. produce other than BS? I can see the finance in New York, Houston's Oil, La's film and manufacturing but other than Government and tourism Washington does not seem to produce anything. Guess it is the 'services' provided by lobbies.

 

[FinallyRetired]

what does Washington D.C. produce other than BS?

Nothing, but it's expensive BS. Govt agencies and all the lobbyists, beltway bandits, and other contractors to keep it going. Plus, if they extend the DC market to Southern Maryland and Northern Virginia, you pick up a lot of biotech and IT.

 

[Texas Proud]

Read below and it become self evident.... GDP is not 'making stuff'...


Tutorial: How to calculate the GDP
The basic formula for calculating the GDP is:
Y = C + I + E + G where Y = GDP C = Consumer Spending I = Investment made by industry E = Excess of Exports over Imports G = Government Spending

 

[Rustic23]

I figured Government Spending had to be in there somewhere. Also, I was unaware of the biotech in the area.