While about 50 percent of expenditures were devoted to national defense in the 1960s, most spending was devoted to welfare programs in 2010. Unemployment, Social Security, health, and education were just 28.9 percent of expenditures in the 1960s, but their size had increased to 61 percent by 2010. The composition of spending shifted from temporary to structural expenditures.
Friday, October 24, 2014
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