Tuesday, February 5, 2019

% GDP


Carol asked about comparative government spending and GDP numbers.

In evaluating these countries, it must be kept in mind that the U.S. has a very significant military budget that others do not have.
Here are the ratios of government spending to GDP in some major economies:

Germany: 43.9% (2017)
Britain: 41.1% (2017)
Canada: 40.8% (2017)
Australia: 36.2% (2015)
Switzerland 34.0% (2015)


Government spending in the United States was last recorded at 37.8 percent of GDP in 2016 . Government Spending To GDP in the United States averaged 36.57 percent from 1970 until 2016, reaching an all time high of 43 percent in 2009 and a record low of 33 percent in 1973.

In fiscal 2017, the federal government spent $4 trillion. Of that, 40 percent — $1.5 trillion, or 8 percent of our gross domestic product — went to Social Security and Medicare.

Carol was asking specifically about Federal outlays.
Total Federal outlays are a net figure, consisting of gross payments minus the amount of business-like collections and intragovernmental transactions, in a given fiscal year. (excluding trusts like social security)

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