We should make clear that is is a chart of *discretionary* spending as a fraction of GDP. Excludes big ticket items like Social Security, Medicare, Medicaid, interest on the debt.
And note that the 2020 spike was self-inflicted, by the party of traitors, thanks to the Rapist's deliberate fostering of a pandemic in a failed bid to swing reelection via mass death in blue cities.
Would be interesting to see how that relates to quality of life measures, too. As I recall, those top revenue countries tend to be among the top on QOL measures as well. The US does not.
Let’s not forget taxing the rich. Folks forget a strong tax base & gov’t spending made college affordable, built the interstate highways, significantly reduced poverty, and moved millions into the middle class. The right wants to convince folks we got all of this from trad values & oppression.
The last time the budget was balanced, under President Clinton, revenues were a couple of percentage points higher than spending. Funny how that works. Source: https://CBO.gov
I am flummoxed that this is the first time I, an uninquisitive average American, have ever been presented with this trend line. Doesn't this blow out of the water any argument about the government becoming bloated and unaffordable?
Comments
On the one hand, tax payers & bond holders somehow print the 💵
On the other hand, our government prints the 💵
Then why do you keep telling folks that money comes from tax payers ??????
What is wrong with you?
https://www.cnbc.com/2024/09/26/top-10-countries-for-quality-of-life-us-news-world-report.html#:~:text=One%20country%20noticeably%20missing%20from,Report%2C%20tells%20CNBC%20Make%20It.
https://apnews.com/article/trump-gdp-economy-government-spending-lutnick-7414ba1bd441bd4bf64620bfd66923b2
Hell, the whole foundation of currency and taxation was in order to pay armies with coin instead of gold/food/goods.