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108 sats \ 1 reply \ @SimpleStacker 14 Nov \ on: The American Addiction to Transfer Payments econ
^THIS
Every year in my Public Econ class I do a pre-quiz where I ask students to guess what the Federal Government spends the most money on: Defense, Social Security & Medicare, Education, or Interest on Debt.
Students usually guess Defense and are surprised to learn that defense spending is only a relatively small fraction of the federal budget.
This is also why substantial cuts are so politically difficult. Even if the bureaucracies are gutted with a machete, Ron Swanson style, most of the spending will still be in place. It would take Congressional reform to entitlements to appreciably reduce spending.
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