2 thoughts on “How much has government spending been cut?”

  1. Posted 24/11/2014 at 13:25 | Permalink

    Well done! A very useful exercise. It might be of interest to note that more than half of British government spending consisted of debt interest between 1818 and 1854. Ignoring it would have given a very misleading picture. And by the way we should always bear in mind that governments, as well as households, might
    find that if interest rates were to increase (as presumably they must some day) it would worsen their financial position considerably.

  2. Posted 15/02/2015 at 16:54 | Permalink

    Are there any studies showing how increased interest rates would affect this picture?

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