Public Policy

Why are we hitting the Debt Ceiling?

According to The American:

Between 1966 and 2007, the entire increase in the size of government relative to the economy resulted from growth in tax-financed health spending.

… as a share of GDP, publicly financed health spending in 2007 was five times as large as it was in 1965 (the year immediately before Medicare and Medicaid began). In contrast, the share of the economy attributable to government spending on all other activities unrelated to health was identical in 1966 and 2007.


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