Wednesday, May 30, 2012

100 years rise in government spending

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
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