RSSU.S. Government Spending as a Percentage of Gross Domestic Product 1980 – 2007
When the government spent $591 billion in 1980, GDP stood at $2.79 trillion. Dividing $591 billion by $2.79 trillion equals 21.6%. In 2007 when spending totaled $2.73 trillion, GDP was $13.67 trillion. Therefore, spending totaled only 19.9% of GDP for the year. Said another way, the government consumed 21.6% and 19.9% of the goods and services produced within the nation in 1980 and 2007, respectively. For the past 28 years the government’s share of GDP has fluctuated in a narrow 5% range, with a high of 23.5% in 1983 and a low of 18.4% in 2000. Over the 28-year period shown in the chart, the federal government has consumed an average of 20.9% of the goods and services produced in the United States.
6 Responses to “U.S. Government Spending as a Percentage of Gross Domestic Product 1980 – 2007”
Leave a Reply
You must be logged in to post a comment.
June 4th, 2009 at 8:57 pm
in response to econarchy, from the way the graph flows only during the Presidency of Clinton for his full eight years did government spending reduce as a % of GDP. All your conservative Bush’s increased the percentage rate. in response to azdog1 you do not get leading edge technology without education coming first. The two places mentioned doing the research on switchgrass as far as I can tell are centers for higher education. By the way in accounting terms any overhead incured during production is a cost associated with the support of production, and therefore a part of production. lastly for av84fun, when the casino makes money of their clientele (suckers) it debits its asset account ‘cash’ and credits its revenue account, in terms of balance sheets debits are assets while credits are liabilities or earnings. the customer lost his money so they would credit their cash account and debit their misery account.