This Chart Is For Anyone Who Thinks The US Has A High Level of Government Spending
As we pointed out yesterday, the idea that the US pays a lot in taxes in objectively false on a global basis. Americans pay relatively little compared to most countries.
Now from Deutsche Bank is a chart that shows the US doesn't spend very much, either, at least compared to other major developed nations.
A couple of interesting things to note.
One is that Germany is usually considered a model of austerity and restraint, and it spends way more than the US does.
The other thing that's surprising is that Japan is usually considered a model of reckless profligacy--and it spends less as a share of GDP than the US does.
A couple of other interesting charts from the report include this one, which shows that pre-crisis, our spending to GDP was pretty stable (not exploding at all).
On the other hand, it is true that healthcare spending has grown fairly significantly as a category of government spending.
