Tuesday, May 31, 2011

Total government spending and receipts

Ratio of receipts and spending to GDP.  For total government 

Bruce Bartlett wants to talk on the topic.  The chart, I think, is for total government, state, local and federal. (FRED hides their definitions pretty well, so I could have an error)

The chart tells me the Reagan is a big government welfarist, Bubba  Clinton a small government libertarian.  And Obama is so far out that he doesn't fit anywhere, he is clueless. The gap we now face is unsustainable, meaning that no amount of fake Keynesian theory is going to prevent a big battle in Congress.

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