3 ms·
How? The annual federal budget is roughly $7T.
by nativeit 3mo ago
How? The annual federal budget is roughly $7T.
- rayiner 3mo agoYou have to include state and local spending too. We’re at 40% of GDP which works out to almost $13 trillion: https://fred.stlouisfed.org/graph/?g=1CFpQ https://fred.stlouisfed.org/graph/?g=1CFpQ. Subtract $1 trillion in defense, and we’re spending about $1 trillion a month on government.
- nixon_why69 3mo agoDoes that chart double-count state transfers to municipalities? When I was in local government, about half our school budget came from the state, so there would be entries on both ledgers.
- raincole 3mo ago> governments Plural implies they count more than the federal government.