Originally posted by Oncle Boris
BTW how could it be explained that public spendings account for nearly 50% of the GDP, while total government revenues are at 12.9%? Doesn't the federal spend 20 to 25% of public money anyway?
BTW how could it be explained that public spendings account for nearly 50% of the GDP, while total government revenues are at 12.9%? Doesn't the federal spend 20 to 25% of public money anyway?
Public program spending does not account for 50% of GDP. Total government program expenditures as a percentage of GDP were a little over 30% in 2001. Debt servicing cost are on top of that.
Total public debt is less than 50% of GDP. It was about 75% in 1995. It is down to under 40% by 2003.
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