The United States government is following Europe's long term rise in government spending. The U.S. government share of GDP is approaching 5o%. In 1950, total federal, state, and local spending represented 20% of U.S. GDP.
During the whole 19th century the U.S. government spending was less then 10% of GDP.
Many European countries have reached government spending in excess of 50% of the GDP. The current 55.7% spending of GDP by the French government is being supported by private sector spending of only 44.3%.
Geir Solem
http://www.elliottwavetechnician.blogspot.com/
Copyright (C) 2012 all rights reserved
During the whole 19th century the U.S. government spending was less then 10% of GDP.
Many European countries have reached government spending in excess of 50% of the GDP. The current 55.7% spending of GDP by the French government is being supported by private sector spending of only 44.3%.
Geir Solem
http://www.elliottwavetechnician.blogspot.com/
Copyright (C) 2012 all rights reserved
