A starving Leviathan?
P. Krugman posted today that:
"there’s a pretty good argument to be made that we are, in fact, starved for public goods in this country, so that it would actually be a good idea to shift some resources to public goods production even if we were at full employment."
Now, Federal Government spending in 2010 is what, $3.7 Trillion? Toss in State and Local spending and we get a total government spending figure of around $6.4 Trillion.
That's Trillion with a "T" and, that's every freakin' year. And we somehow can't produce nearly enough public goods?
If that is true, every single elected offical should be tossed into stocks and given a few turns on the rack.
Total government spending is predicted to level out at over 40% of GDP and we are "starved for public goods"?