lecture25_312_NewDeal_SP11_overheads

Lecture25_312_NewDea - Lecture 25 May 2 2011 The New Deal The First New Deal Please read chapter 23 in Atack as well as chapter 22 During the New

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Lecture 25 May 2, 2011 The New Deal The First New Deal Please read chapter 23 in Atack as well as chapter 22
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During the New Deal, the national government expanded largely through the use of grants, particularly for relief. So it matters how we measure expenditures and grants, whether the grants are attributed to the granting or receiving government. The granting government collected the taxes, the receiving government administered the expenditure
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Economic Forces in American History Expenditures attributed to granting government
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Economic Forces in American History Expenditures attributed to receiving government
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The effect on the size of the national government was permanent (in the sense that it has lasted until the beginning of the 21 st century), Both in terms of expenditures as a share of GDP and national expenditures as a share of all government expenditures. In that sense, the New Deal was definitely a “defining moment.”
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The growth of the national government was not just the result of the New Deal, however, WWII also made a permanent impact on the structure of government. In large part this resulted from the dramatic expansion of military expenditures as a share of GDP.
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Economic Forces in American History National Government Expenditures As Percentage of GNP GNP GNP GNP GNP Debt % Interest % Defense % Budget % 0. 7 0.01 0.78 1.43 1840 2. 0 0.10 0.78 1.98 1844 1. 4 0.08 0.44 1.68 1854 32.0 1.42 5.63 8.85 1865 29.4 1.43 0.52 3.67 1875 13.9
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This note was uploaded on 10/25/2011 for the course ECON 312 taught by Professor Johnwallis during the Spring '11 term at Maryland.

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Lecture25_312_NewDea - Lecture 25 May 2 2011 The New Deal The First New Deal Please read chapter 23 in Atack as well as chapter 22 During the New

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