US Government Is World’s 3rd Largest Economy
Our government is certainly bloated beyond belief.
Check it out:
Monday’s open enrollment deadline for ObamaCare, which, with its subsidies and tax credits, represents the largest expansion of government, is a good time to assess the total scale of government in the US.
Appreciating the full scope of the US government is difficult, because its activities are undertaken at the federal, state, and local levels. Adding all of this together, government in the US consumes more than $6 trillion a year. This makes the US government the world’s 3rd largest economy.
The United States economy produces just over $16 trillion in total goods and services every year. China’s economic output is, by the most reliable measure, over $8 trillion. The next largest national economy is Japan, producing around $5 trillion in total economic output. Federal, state, and local governments in the US, however, consume more than $6.2 trillion. US government spending, in fact, is about the same as the total economic output of France and Germany combined.