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by xnyan
784 days ago
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That number is meaningless without also considering US GDP (even if you write trillion in caps). The US averages about 14% government spending as a fraction of GDP, placing it at ~90/140. For the size of the US economy, spending should be significantly higher. |
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>...The US government's Bureau of Economic Analysis as of Q3 2023 estimates $10,007.7 billion in annual total government expenditure and $27,610.1 billion annual total GDP which is 36.2%.[1]
https://en.wikipedia.org/wiki/Government_spending_in_the_Uni...
>For the size of the US economy, spending should be significantly higher.
The percentage shot up during the Covid spending and is still slightly above the historical average.