I should have linked to the explanation. Chart shows all government spending, state, local, and federal, as a percentage of potential GDP (done to eliminate the distorting effect of recession and inflation). Don't be scared, we've been worse off before. The important thing is that it's falling. During Obama I might add.Quote from jem:
what is it your chart is showing.
what against nominal gdp.
are you showing that fed govt is 34 percent of the entire economy.
What happens when you include state spending?
how the hell can the private economy support such a major drag.
And we have not really even begun to satisfy all these unfunded retirement programs for govt workers.
that is one of the scariest charts I have ever seen.