News Analysis: The World’s Third Largest Economy: American Government is due principally to the Federal Government’s expansion with the current Regime in the White House. Federal, State, and Local Governments in America constitute an estimated $6.2 Trillion Dollar Consumption in America’s $16 Trillion Dollars in Goods and Services Market”! $8 Trillion Dollars is the economic output of China followed by Japan’s $5 Trillion Dollars of total economic output.
If one extrapolates the U.S. Government Federal Expenditures ($3.5 Trillion Dollars), the conclusion can be readily made that Government Employment is at a Non-Wartime High, many people say. This, if true, works to the White House’s lower Unemployment Numbers. “The Federal Government has hired ‘everyone'” so Unemployment is not too severe” Economists think.
Unfortunately for America, High Federal Government Employment DOES NOT translate into producing “Saleable Goods and Services” to the International Marketplace. Are the 50,000+/- Transportation Security Administration Employees at U.S. Airports going to make or sell something for Foreign Customers? Hardly; “An Institutionalized “Make Work” Program, nothing more” people say.
The Presidential Election approaching will bring in a new Regime. Hopefully, it will not squander money, but instead act in a Fiscally Responsible manner. When it gets here it will face a estimated National Deficit of approximately $22 Trillion Dollars; an amount it CANNOT possibly repay during the lifetimes of today’s adults. Profligate Spending by Political Wastrels who care NOTHING about America’s Future Generations is obvious; how to repay those who provided the Monies is not.
Reality.
Reference: http://www.breitbart.com/Big-Government/2014/03/31/US-Government-Is-Worlds-3rd-Largest-Economy