Government Spending Is Out of Control! LOL
The Big Picture
MARCH 24, 2025
The text accompanying that chart reads: “ Consumption: in 2024, one third of GDP came from government spending, a record high excluding periods of war or crisis; this was financed by 6-7% budget deficits, another unwelcome peacetime record.” Total expenditures exclude consumption of fixed capital (CFC), which is a noncash charge.
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