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That number is meaningless without also considering US GDP (even if you write trillion in caps). The US averages about 14% government spending as a fraction of
by xnyan 3y ago
That number is meaningless without also considering US GDP (even if you write trillion in caps). The US averages about 14% government spending as a fraction of GDP, placing it at ~90/140. For the size of the US economy, spending should be significantly higher.
- opo 3y agoYou are ignoring state government expenditures. >...The US government's Bureau of Economic Analysis as of Q3 2023 estimates $10,007.7 billion in annual total government expenditure and $27,610.1 billion annual total GDP which is 36.2%.[1] https://en.wikipedia.org/wiki/Government_spending_in_the_United_States https://en.wikipedia.org/wiki/Government_spending_in_the_Uni... >For the size of the US economy, spending should be significantly higher. The percentage shot up during the Covid spending and is still slightly above the historical average.