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Started By
Message
re: 42% of our GDP was from govt spending
Posted on 3/9/25 at 9:09 am to Kraut Dawg
Posted on 3/9/25 at 9:09 am to Kraut Dawg
quote:
I've not found that it's 40+% for all three levels, but I've seen it in the upper 30s from early 2020s data.
Yeah 30% seems feasible, based on states. But they all have varying degrees of policies. I doubt states are spending as much as the entire federal government to make it 42% but could be proven wrong with the data
0
Posted on 3/9/25 at 9:10 am to BigOrangeVols
quote:
Am I off base, or does 30% not seem crazy to me
Well it makes sense when you consider the majority of that money is social security, Medicare, and Medicaid. Health care costs will continue the March upwards as long we try to be the leader
Posted on 3/9/25 at 9:58 am to FLObserver
Decades ago, a govt workers got a guaranteed retirement because their pay was less than the private sector.
This hasn't been true for 20+ years. This should have been corrected a long time ago.
This hasn't been true for 20+ years. This should have been corrected a long time ago.
Posted on 3/9/25 at 10:07 am to BigOrangeVols
You’re not wrong at all. OP statistic is just fodder to justify the market continuing to tank.
It’s not tanking because of “tariffs”. It’s not tanking because of government cuts. It’s tanking because the tariffs are more on-again off-again than Taylor Swifts boyfriends.
It’s not tanking because of “tariffs”. It’s not tanking because of government cuts. It’s tanking because the tariffs are more on-again off-again than Taylor Swifts boyfriends.
Posted on 3/9/25 at 11:01 am to deltaland
quote:
42% of our GDP was from govt spending
That's not quite right. Total GDP for 2024 was $29.167T while total federal spending was $6.7T, which comes out to ~23% of GDP.
The real problem is continual debt growth (both public and private) and how GDP growth has become dependent on it. That gravy train has to end at some point, whether it's continual 20+% interest rates on carried credit card balances eventually cutting the legs off of consumers or continued growth in federal deficit spending eventually crushing the USD.
The only answers anyone seems to be interested in implementing are those which effectively ignore the problem, which ends up just making it worse.
This post was edited on 3/9/25 at 11:03 am
Posted on 3/9/25 at 12:13 pm to OTIS2
quote:$100B
Here. Dumbass
Posted on 3/9/25 at 2:05 pm to Big Scrub TX
Over the last 6 weeks. I like the pace. You?
Posted on 3/9/25 at 8:13 pm to OTIS2
quote:If it's even real, and if it stayed on that pace, that would be ~$850 billion. And certainly not all of that was recurring to begin with. Let's say it's $500 billion in a best case. It's not nothing, but it's certainly not some big impact on our fiscal situation. Barely noticeable, actually.
Over the last 6 weeks. I like the pace. You?
Posted on 3/9/25 at 8:26 pm to Big Scrub TX
That’ll make a nice dent in the deficit. I like it and I like the effort.
Posted on 3/9/25 at 8:53 pm to OTIS2
quote:Sure, it's nice. It's also likely at least an order of magnitude removed from the evident expectations of the OP.
That’ll make a nice dent in the deficit. I like it and I like the effort.
IMO, DOGE is much more a cultural thing than a directly financial thing. I'm 100% for ending the expectation of a permanent gravy train for so many people. I'm also realistic about the size. Just as an example, the entire federal payroll is like $100B.
Posted on 3/10/25 at 10:28 am to deltaland
We're on the Milei plan.
A few quarters of contraction while we get rid of the waste and government bloat, followed by a rocketship to mars.
A few quarters of contraction while we get rid of the waste and government bloat, followed by a rocketship to mars.
Posted on 3/10/25 at 10:34 am to deltaland
Freeze hiring and let attrition go to work is one thing that works that is relatively non-contentious.
Posted on 3/10/25 at 10:44 am to deltaland
What percent of our gdp is Walmart? 99% of their revenue is food stamps
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