While the report is sober and the conclusions reasonable, I struggle with their presenting government outlays in dollars rather than as a percentage of GDP. It's worth noting that U.S. GDP was about $1 Trillion for 1970 and $26 Trillion for 2022. Transfer income from 1970 to 2022 increased by a factor of about ten, or much less than the growth in GDP.
While the report is sober and the conclusions reasonable, I struggle with their presenting government outlays in dollars rather than as a percentage of GDP. It's worth noting that U.S. GDP was about $1 Trillion for 1970 and $26 Trillion for 2022. Transfer income from 1970 to 2022 increased by a factor of about ten, or much less than the growth in GDP.
While the report is sober and the conclusions reasonable, I struggle with their presenting government outlays in dollars rather than as a percentage of GDP. It's worth noting that U.S. GDP was about $1 Trillion for 1970 and $26 Trillion for 2022. Transfer income from 1970 to 2022 increased by a factor of about ten, or much less than the growth in GDP.