The U.S. Spends Far Too Little on Social Welfare
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Nathaniel Lewis uses OECD data to show just how far behind we are peer nations in social spending. Others have written similar pieces before but, Lewis' piece is novel in that he uses total consumption as the quantity to compare social spending against and because his analysis accounts for the tendency that social spending goes up as a country's total consumption goes up. The headline finding is that, in 2013, the US spent $1.6 trillion less on public social spending than it should have if it matched the tendencies of peer nations.