Monday, December 3, 2018

Public social spending as a share of GDP.

H/t: "The Curious Case Of Western Europe Vs. Eastern Europe." By Chris, ZeroHedge, 12/2/18.



As people in power realized they could buy votes from the public treasury - and shared that insight.

Col. B. Bunny said...

FDR made good use of WPA money and sprinkled it around borderline states. Then he took it away.

I wish I could remember the name of an Oklahoma U.S. senator IIRC. He took a principled stand against wasteful spending at the start of the New Deal and was voted out the next election. Lesson learned for all the others.

I hope I didn't butcher the facts too much on that one.