CONVERSABLE ECONOMIST - CONVERSABLE ECONOMIST Entitlements Public Investment and the Changing Nature of the U.S Government The nature of what the

CONVERSABLE ECONOMIST - CONVERSABLE ECONOMIST Entitlements...

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CONVERSABLE ECONOMIST Entitlements, Public Investment, and the Changing Nature of the U.S. Government The nature of what the federal government does is shifting over time, away from providing goods and services to the public and toward becoming a conduit for payments to households. Jessica Perez, Gabe Horwitz, and David Kendall summarize some trends in a report for a Democrat-leaning think tank called Third Way . They write: "Entitlements are squeezing out public investments. In 1962, spending on investments was two and a half times that of entitlements. But today, as a result of this Great Inversion, entitlement spending is three times that of investments. And this trend will only accelerate in time as the Baby Boomers retire and their benefits grow faster than inflation and wages." What exactly is included in these categories? It takes a quick skip and a hop through federal budget documents to find out. In the proposed Budget of the United States for FY2013 from the Office of Management and Budget, Table 8.5 in the Historical Tables summarizes "mandatory
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  • Fall '13
  • Microeconomics, Federal government of the United States, federal spending, entitlement spending

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