|Table 1: Components, As Percentage Of GDP|
I thought I'd expand on a recent graph. I was curious to see how state and federal government spending break down in the United States. To draw the graphs in this post I performed some aggregation from the data:
- Consumption: Listed as "Personal consumption expenditures".
- Investment: Combines "Private fixed investment" and "Changes in private inventories".
- Trade deficit: Combines "Exports of goods and services" and "Imports of goods and services".
- Federal Government: Combines "National defense: Consumption expenditures", "National defense: Gross investment", "Nondefense: Consumption expenditures", and "Nondefense: Gross investment".
- State Government: Combines "State and local government consumption expenditures" and "State and local government gross investment".
I suppose I could find a price index, and plot absolute amounts, rather than percentages of GDP. Then you could see, for example, that GDP in 2009 is actually lower than the 2008 value, as a result of the global crash. Does the breakdown of government spending into consumption and gross investment components reflect the influence of Robert Eisner?
|Table 2: Selected Components, As Percentage Of GDP|