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October 10, 2009

An Economy To Support The Government? (Mætenloch)

Okay I don't claim to be an economist but this chart seems rather disturbing. I found it in this article by Adam Sharpe of Seeking Alpha. It shows government spending as a percentage of GDP over the last 107 years. (You can make your own chart here.) And here government spending includes federal, state and local spending as well as government transfers.

Now maybe GDP isn't the right comparison variable to use for this but it seems like a reasonable place to start. And apart from peaks during WWI and WWII the trend is unmistakable. I didn't bother running a regression but by my eye-ball extrapolation it looks like we go to a government-run economy with some free enterprise around the year 2025.

Well at least we'll have high literacy rates, free medical care, and social harmony. Just like Cuba.

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posted by xgenghisx at 04:53 AM

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