Scan below comparing the last three years trend in the individual line items of US government spending into the non-government sector.
Let's see...
Commodity supports: DOWN
Energy: DOWN
Education: DOWN
Federal Salaries: DOWN
Defense: DOWN
Highways: DOWN
Food & Nutrition: DOWN
UST Interest: DOWN (and what's left being paid to the Fed and foreigners...)
Unemployment Comp: DOWN
NASA: DOWN
Needy Families: DOWN
Obama's Golf Handicap: DOWN
Democrat election results: DOWN
S&P 500 EPS: UP
Overall though, we are slightly UP mostly due to spending on what can perhaps be termed "retirement" spending line items such as Social Security, Medicare/Medicaid, and Veteran's Benefits.
S&P firms are seemingly still killing it in the work of provisioning this "retirement priority" economy being foisted upon us.
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