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Can someone explain the significance of this statistic in context? Seems there are many successfully economies with a government spend of higher % of GDP than
by reasonabl_human 4y ago
Can someone explain the significance of this statistic in context? Seems there are many successfully economies with a government spend of higher % of GDP than the US. Not sure how this fits into a broader picture of a country’s financial health.
Also- based on my cursory reading here, it seems disingenuous to claim 46% of GDP is government spending- the stat is that government spending is comparable to 46% of the GDP of that year. Government spend doesn’t comprise 46% of the GDP, rather we are using GDP as a measuring stick to evaluate the sanity of government spending amounts.
- Mikeb85 4y agoIt means 46% of GDP is government spending. Actually. Defense spending. Government workers. Infrastructure projects various governments partially or fully pay for. Subsidies. And so on.
- reasonabl_human 4y agoInteresting- in that case these are some eye popping numbers. However, I’m struggling to square that fact with the observation that the Wikipedia table shows a number of entries >100%. How could government spending ever exceed 100% of GDP given it is counting toward GDP?