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I can't repro the 45% number. BEA says 2021 US GDP is nearly $23T, CBO says total 2021 budget is $6.8T.
by cjsplat 5y ago
I can't repro the 45% number.
BEA says 2021 US GDP is nearly $23T, CBO says total 2021 budget is $6.8T.
- jmalicki 5y agoFederal budget is $6.8T, the 45% includes state and local government spending as well. https://fred.stlouisfed.org/graph/?g=8fX https://fred.stlouisfed.org/graph/?g=8fX https://en.wikipedia.org/wiki/Government_spending_in_the_United_States#:~:text=By%202019%2C%20federal%20spending%20was,45%25%20of%20total%20government%20expenditures https://en.wikipedia.org/wiki/Government_spending_in_the_Uni....
- projektfu 5y agoOK, that says 20% federal + 17% state/local, and that state/local is about 45% of all government expenditures. In other words, it's 37% and not 45% of GDP.