TuffaloDeac10
🌹☭
Transfers plus state and local
Transfers plus state and local
Fruit cup. For extra credit, why is that an important distinction?
[Caveat: we don't actually know the numbers underlying the chart tj posted, but I think Tuffalo has made a reasonable guess]
Fruit cup. For extra credit, why is that an important distinction?
[Caveat: we don't actually know the numbers underlying the chart tj posted, but I think Tuffalo has made a reasonable guess]
Tjcmd's chart is from a Josh Barro piece at Forbes. Barro is very good so I trust it.
Transfers don't (directly) contribute to GDP which is why FRED only has BEA numbers on government consumption and gross investment. Also why BEA is tracking that and not gross federal spending.
I should add that any governmental intermediate goods or services are also not included in my series. They're very small though, especially relative to transfers