An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Trying to figure out how he has gov't at all levels at 13.8 percent of GDP, while all other sources I look at show Fed gov't alone near 40 percent ... what am I missing?
Ken, Transfer payments such as Social Security, Medicare, and Unemployment don't contribute to the Government Portion of GDP.
OK, that clears it up .. thanks.
Unrelated - sorry. Anyone want to contribute to the discussion on deficits do not matter at Motley Fool:http://www.fool.com/investing/general/2012/01/30/why-the-deficit-isnt-a-problem.aspx
Awesome job Crake. Clear concise and to the point. One caveat. The critics might say that the Fed is monetizing the debt. The reply to this is? ... I know but want to see if you do.
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