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January 23, 2008

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Robert Freeman

Unfortuantely, Financial Reality's credibility is blown by the statement, "A reduction in the burden of government, which spends 44% of U.S. GDP in non-productive ways, like wars"

In the third quarter of 2007, the last quarter for which data is available, government spending amounted to 19.4% of GDP. The data are here at the Bureau of Economic Analysis web site:

http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=5&FirstYear=2006&LastYear=2007&Freq=Qtr

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  • Chronicles of international finance and geopolitics, with hints from thither and yon to help us find a way from "growth and development" to "sustainability."

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