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Government spending or expenditure includes all government consumption, investment, and transfer payments. [1] [2] In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure.
This article lists countries alphabetically, with total government expenditure as percentage of Gross domestic product (GDP) for the listed countries. Also stated is the government revenue and net lending/borrowing of the government as percentage of GDP. All Data is based on the World Economic Outlook Databook of the International Monetary Fund.
Social Security spending will increase sharply over the next decades, largely due to the retirement of the baby boom generation. The number of program recipients is expected to increase from 44 million in 2010 to 73 million in 2030. [30] Program spending is projected to rise from 4.8% of GDP in 2010 to 5.9% of GDP by 2030, where it will ...
However, federal spending increased relative to state and local spending as a result of World War I and World War II, and by the 1930s, state and local government spending accounted for less than one half of government spending. By 2019, federal spending was more than 20% of GDP, while state and local spending hovered around 17% of GDP.
J.P.Morgan estimated spending on data centers could contribute between 10-20 basis points to U.S. economic growth in 2025-2026 as technology companies race to benefit from the artificial ...
Though averaging about 10 percent of GDP since 1973, mandatory spending is projected to increase to about 14 percent of GDP by 2027. [12] Discretionary spending on the other hand is projected to fall further, to 5 percent of GDP. BY FY2022, discretionary spending's share of the economy is projected to be equal to or less than spending on Social ...
GDP measures flows rather than stocks (example: the public deficit is a flow, measured per unit of time, while the government debt is a stock, an accumulation). GDP can be expressed equivalently in terms of production or the types of newly produced goods purchased, as per the National Accounting relationship between aggregate spending and income:
USAID's spending makes up 0.6% of the overall $6.9 trillion federal budget. That's like cutting out $464 a year (or almost 93 lattes) ... and swell the debt to 132-149% of GDP by 2035.