64 ms·
You 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:/
by rayiner 4mo ago
You 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 4mo 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.