A Record 34% of All Household Income in the US Now Comes from the Government

It is incredible what has happened over past year…thousands of small business failures, millions relying on government transfers…and the equities market keeps going up! Between 2019 and 2021 total federal government debt increased from $22 trillion to $28 trillion. Due to electronic money printing, the Federal Reserve balance sheet increased from $4 trillion to $8 trillion. What will the consequences be of decisions to shut down the economy justified by the “pandemic”, push people out of self-reliance, and support it all with money printing?


Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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