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<blockquote data-quote="Bright Raven" data-source="post: 1428887" data-attributes="member: 27490"><p>Government - federal, state, county, local- is now the major player in our GDP. As an exaggeration perhaps, you could say, Government is our economy.</p><p></p><p><strong>Government spending or expenditure includes all government consumption, investment, and transfer payments.[1][2] In national income accounting the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure. Government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending, is classed as government investment (government gross capital formation). These two types of government spending, on final consumption and on gross capital formation, together constitute one of the major components of gross domestic product.</strong></p></blockquote><p></p>
[QUOTE="Bright Raven, post: 1428887, member: 27490"] Government - federal, state, county, local- is now the major player in our GDP. As an exaggeration perhaps, you could say, Government is our economy. [b]Government spending or expenditure includes all government consumption, investment, and transfer payments.[1][2] In national income accounting the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure. Government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending, is classed as government investment (government gross capital formation). These two types of government spending, on final consumption and on gross capital formation, together constitute one of the major components of gross domestic product.[/b] [/QUOTE]
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