First of all... Happy holidays!
You may remember the last line from that original holiday reading post: "the only source of “net $U.S. monetary savings” (financial assets) for the non-government sectors combined (both residents and non-residents) is U.S. government deficit spending."
Now, here's a little follow-up with graphs from "FRED" (the St. Louis Fed) showing that spending in various aspects:
Real State and Local Government Gross Investment, 1999-2014
Real Federal Government Nondefense Gross Investment, 1999-2014
(Real state and local government gross investment + Real federal government nondefense gross investment) / Real Gross Domestic Product, 1999-2014
(Net federal government nondefense investment, and net state and local government investment) as a share of Gross Domestic Product, 1948-2013
(Net federal government nondefense investment, and net state and local government investment) as a share of nominal potential Gross Domestic Product, 1949-2013
The above shows that the Federal government has actually become a drag on the economy. Could we have saboteurs? Gosh! I wonder!
Real Median Family Income, 1948-1980-2013
1948 ( 26,920)
1980 ( 56,585)
2013 ( 63,815)
$56,585 - $26,920 = $29,665
29,665 / 26,920 = 110.2%
63,815 - 55,585 = 8,230
8,230 / 55,585 = 14.8%
Between 1948 and 1980, real median family income increased by 110.2%, while between 1980 and 2013 real median family income increased by a mere 14.8%.
You may remember the last line from that original holiday reading post: "the only source of “net $U.S. monetary savings” (financial assets) for the non-government sectors combined (both residents and non-residents) is U.S. government deficit spending."
Now, here's a little follow-up with graphs from "FRED" (the St. Louis Fed) showing that spending in various aspects:
Real State and Local Government Gross Investment, 1999-2014
Real Federal Government Nondefense Gross Investment, 1999-2014
(Real state and local government gross investment + Real federal government nondefense gross investment) / Real Gross Domestic Product, 1999-2014
(Net federal government nondefense investment, and net state and local government investment) as a share of Gross Domestic Product, 1948-2013
(Net federal government nondefense investment, and net state and local government investment) as a share of nominal potential Gross Domestic Product, 1949-2013
The above shows that the Federal government has actually become a drag on the economy. Could we have saboteurs? Gosh! I wonder!
Real Median Family Income, 1948-1980-2013
1948 ( 26,920)
1980 ( 56,585)
2013 ( 63,815)
$56,585 - $26,920 = $29,665
29,665 / 26,920 = 110.2%
63,815 - 55,585 = 8,230
8,230 / 55,585 = 14.8%
Between 1948 and 1980, real median family income increased by 110.2%, while between 1980 and 2013 real median family income increased by a mere 14.8%.
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