Also, if you think these priorities are out of whack (which I do!) you should start grappling with how and why our spending looks like this.
Source: https://t.co/xJ6RXScUT0 https://t.co/vlCP1sSZHT
Also, if you think these priorities are out of whack (which I do!) you should start grappling with how and why our spending looks like this. Source: https://t.co/xJ6RXScUT0 https://t.co/vlCP1sSZHT
Government consumption spending, education spending, and health care spending overlap to some extent, but in total, without double counting, they still exceed 25 percent of U.S. GDP.
Tyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
Ancien régime Europe certainly spent heavily on its armies and navies, and their use in war accounted for some 54 per cent of public spending in the European monarchies during the eighteenth century.
John Darwin • After Tamerlane: The Rise and Fall of Global Empires, 1400-2000
So let’s sum up. Government consumption spending, education spending, and health care spending overlap to some extent, but in total, without double counting, they still exceed 25 percent of U.S. GDP. They are also three of our most rapidly growing sectors, and at least two of them—health care and education—ought to be two of our most dynamic sector
... See moreTyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
War and rampant militarism—we now have 761 military bases we maintain around the globe—drains the lifeblood out of the body politic. The U.S. military spends more than all other militaries on earth combined. The official U.S. defense budget for fiscal year 2008 is $623 billion, and by 2010 the Pentagon is slated to receive more than $700 billion, o
... See moreChris Hedges • Empire of Illusion: The End of Literacy and the Triumph of Spectacle
spending by America's Federal Government (adding in state and local governments significantly increased the total) was around 24% of national income whilst tax revenues were 15% of national income. That left a near-record peacetime budget deficit to be financed by borrowing of 9% of GDP.
Michael Green • In Gold We Trust? The Future of Money in an Age of Uncertainty (Kindle Single)
The United States spends a higher percentage—a much higher percentage—of its GDP on medical services than any other country in the world. It’s now more than 17 percent of our economy. Yet American health outcomes are not obviously superior to those of other wealthy countries.
Tyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
In the report we see that the federal government spends $877.5 billion annually on these benefits and services. And let us note that this spending does not include Social Security, Medicare, unemployment insurance, or Affordable Care Act subsidies. However, the $877.5 billion does include $467.8 billion spent on health care for the poor in programs
... See moreP.J. O'Rourke • A Cry from the Far Middle: Dispatches from a Divided Land
Then, starting in the late 1960s, both NASA and the DoD’s budgets fell off.
Here is the DoD budget as a percentage of GDP since 1960: