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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (870957)	7/9/2015 9:35:29 AM
From: RetiredNow	1 Recommendation Recommended By TideGlider Read Replies (1) \| Respond to of 1576163

In every country where Socialism is expanding, we also see government expenditures rising dramatically as a portion of GDP. Said another way, government consumes more of total national economic output to spend on two primary things: welfare and healthcare. In Europe, that figure is roughly half of GDP. In the US, by comparison, that figure is around 20% of GDP. We let the People keep more of their economic output, which is why historically the US has grown our wealth faster than Socialist countries. Alas, we've decided that we don't like wealth. So we are going the route of the Europeans and we'll get all the good (welfare and healthcare) and bad (slow growth, high unemployment, more frequent recessions) that comes with it as well. ec.europa.eu In 2014, total general government expenditure amounted to €6 701 bn in the European Union (EU). This represented almost half (48.1%) of EU GDP in 2014… Among EU Member States, general government expenditure varied in 2014 from less than 35% of GDP in Lithuania and Romania to more than 57% in Finland, France and Denmark. Not only is government spending consuming almost half of economic output, redistribution outlays are the biggest line item in the budgets of European nations. …the function ‘social protection’ was by far the most important, accounting for 40.2% of total general government expenditure. The next most important areas in terms of general government expenditure were ‘health’ (14.8%)… Its weight varied across EU Member States from 28.6% of total general government expenditure in Cyprus to 44.4% in Luxembourg. Eight EU Member States devoted more than 40% of their expenditure to social protection.