January 28, 2014

RICHARD EPSTEIN: The Fragile State Of The Union. “Nor is it possible to rail at the Republicans for their heartless cuts in the safety net, in light of the pattern of transfer payments and unemployment benefits. The OECD account on this point concludes tersely: ‘In the United States too, the increase in social spending generally outpaced GDP-growth in recent years and by 2013 public social spending has been estimated to have increased to 20% of GDP, up from 17% in 2008,’ which amounts to about a 17.6% increase. At the same time, the attacks on the cuts to food stamps must come to grips with the major expansion in that program over the past five years.”

I think he’ll find it possible to rail at the Republicans nonetheless.