Its not just federal spending

August 27, 2010 04:44

State and local governments have increased spending at double the rate of the private sector since 1950. See the DEBT CLOCK to check your state’s debt to GDP ratio and your per capita share of state debt.

Spending Growth Since 1950

From the Mercatus Center – ‘Between 1950 and 2009, private spending (adjusted for inflation) increased by five times its 1950 level. State and local government spending, by contrast, increased by a factor of 10 — essentially doubling the private sector rate of spending increase, according to data from the Bureau of Economic Analysis.’

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