Saturday, December 8, 2012

Welfare State? Not So Much

Paul Krugman shows a graph of government transfer payments to individuals, other than medicare and medicaid:  It shows that such payments shoot up during recessions, when people are out of work, then drop back down as the economy picks up.  Currently about 8% of GDP.  

This certainly only measures transfers to the poor, elderly, and working class.  Welfare for the rich wouldn’t be included.

No comments:

Post a Comment