What do governments spend money on? In the chart, we see spending in different categories, such as defense, health, and education, as a share of total government spending. This is shown for a selection of OECD countries. For some categories, such as public services, the share https://t.co/IBJ0QgoBLP
One of the fundamental underlying problems was that Brazil’s public finances were weak. The scale of emergency grant payments in 2020 had left the administration with a gigantic fiscal hole, increasing the size of the nominal deficit from 5.8 per cent of GDP at the end of 2019 to 13.7 per cent by the end of 2020. The decision to renew the grant in
... See moreIn turn, the national debt would rise from 35 percent of GDP in 2003 to 50 percent of GDP in 2013—the highest since the mid-1950s, when the United States was still paying down the debt it incurred to fight World War II. The projected red ink and increased debt would be even greater in the years thereafter, when the baby-boom generation reaches reti
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