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For readers looking for context, Google tells me it was ~24% of GDP as of 2024
by airstrike 2y ago
For readers looking for context, Google tells me it was ~24% of GDP as of 2024
- hmmm-i-wonder 2y agoThat seems impractical and unsustainable.
- dragonwriter 2y agoBased on what? Even adding in state spending, the US government spending share of GDP isn't high by world standards.
- hmmm-i-wonder 2y agoGovt spending as a share of GDP is probably a good measure of how involved the government is in the economy. There are arguments that too much government involvement leads to stagnation, which considering many of the economies the US regularly out-grows have higher share of govt spending as a % of GDP has some merit. Its an interesting economic question what level that would be which changes depending on how you approach the problem.
- edgyquant 2y agoSo that means the government is taking more than 1/5 of all the money generated by the US. That’s crazy and no wonder the nation is going bankrupt
- airstrike 2y agoIt reminds me of the Portuguese court taking 1/5 of all the gold mined from colonial Brazil: https://pt-m-wikipedia-org.translate.goog/wiki/Quinto_do_ouro?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp https://pt-m-wikipedia-org.translate.goog/wiki/Quinto_do_our...
- s1artibartfast 2y agoState and local governments also take their cut. I believe the total is about 35%. Important to note that outlays do not equal federal taxes, because spending exceeds revenue by a substantial margin.
- smileson2 2y agohttps://fred.stlouisfed.org/series/FYONGDA188S https://fred.stlouisfed.org/series/FYONGDA188S Is a better graph