I'm not saying this is a good thing. But this is a consequence of keeping the world's reserve currency. The government has to find a way to take more from the private sector, because it's not growing fast enough. And they have to use the proceeds to bribe other nations to keep the dollar at the top of the heap of failing currencies.
Interesting, but the US may be changing. President Trump has never shown much concern about debt levels, but he is doing some things that might increase productivity in the private sector and he's firing a lot of government workers, reducing size of government, except for the military. Not sure yet how it's all going to play out. But some of the changes are historic. Just going after massive fraud should help get the budget under control, you'd think - but it's not showing up yet...
Doug, not sure that this is a comparison of apples to apples. France is not a federal system. what would the US stats be if one includes state government to the federal?
>>And that's just federal spending—add in state and local government, and the figure climbs to around 46% (putting the U.S. on par with the EU average).
France and cohorts have long gone Soviet in many ways.. (from Johannesburg)
Its 38.9 % in Australia we have a communist/socialist gov in charge and many people who will mortgage their future for free stuff
Makings of a revolution again. But then again France is the home of communist ideology
I'm not saying this is a good thing. But this is a consequence of keeping the world's reserve currency. The government has to find a way to take more from the private sector, because it's not growing fast enough. And they have to use the proceeds to bribe other nations to keep the dollar at the top of the heap of failing currencies.
Interesting, but the US may be changing. President Trump has never shown much concern about debt levels, but he is doing some things that might increase productivity in the private sector and he's firing a lot of government workers, reducing size of government, except for the military. Not sure yet how it's all going to play out. But some of the changes are historic. Just going after massive fraud should help get the budget under control, you'd think - but it's not showing up yet...
I doubt you meani it about Trump... (from Johannesburg)
The amusing thing about this is that half the people saying the sky is falling will be long dead when it actually does.
I agree. My parent were worried about it 25 years ago and now they're both dead...
Doug, not sure that this is a comparison of apples to apples. France is not a federal system. what would the US stats be if one includes state government to the federal?
John, did you see the note?
>>And that's just federal spending—add in state and local government, and the figure climbs to around 46% (putting the U.S. on par with the EU average).
Thanks I did not see it. Appreciate your pointing out
No prob!
This ends badly. Makes me wonder how much further living standards have to fall, even from these levels.
Agreed. I find it almost dystopian.