What % of GDP is it appropriate for government to operate at
Posted: Fri Apr 22, 2011 7:13 pm
http://online.wsj.com/article/SB1000142 ... lenews_wsj
Its a self serving article with a graph that shows a marked increase in % of economy around the time Obama takes office, but its a good question even if it is obvious that government is an unflexible cost so when the economy takes a shit the % government consumes goes up.
What % of GDP is it appropriate for government to consume?
Another article I posted recently claimed that "regulation" consumed 1.7 trillion or roughly 11% of GDP. If you combine the too you get 35% (its unclear to me if any of those figures share costs).
Now add 16% for healthcare (and thats likely to keep growing) and we're up around 50%...
is that a problem? 50% of the economy just to provide for government, safety and healthcare? We still have huge costs for housing, food and transportation to consider as well. What portion of the economy do we get to use?
Its a self serving article with a graph that shows a marked increase in % of economy around the time Obama takes office, but its a good question even if it is obvious that government is an unflexible cost so when the economy takes a shit the % government consumes goes up.
What % of GDP is it appropriate for government to consume?
Another article I posted recently claimed that "regulation" consumed 1.7 trillion or roughly 11% of GDP. If you combine the too you get 35% (its unclear to me if any of those figures share costs).
Now add 16% for healthcare (and thats likely to keep growing) and we're up around 50%...
is that a problem? 50% of the economy just to provide for government, safety and healthcare? We still have huge costs for housing, food and transportation to consider as well. What portion of the economy do we get to use?