Study: By 2050, 60% of American Production Will Go to Government: According to Michael D. Tanner of the CATO Institute, America isn’t just headed for a fiscal cliff – we flew off it long ago like Thelma and Louise thanks to our out-of-control spending habit. Tanner writes: “federal spending is set to rise to 46 percent of GDP by 2050. When you add in state and local spending, government at all levels will be consuming more than 60 percent of everything produced in this country. We cannot long remain economically productive or personally free with a government of that size.”
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