This Chart Is For Anyone Who Thinks The US Has A High Level of Government Spending

As we pointed out yesterday, the idea that the US pays a lot in taxes in objectively false on a global basis. Americans pay relatively little compared to most countries.

Now from Deutsche Bank is a chart that shows the US doesn’t spend very much, either, at least compared to other major developed nations.

government spending

Photo: Duetsche Bank

A couple of interesting things to note.

One is that Germany is usually considered a model of austerity and restraint, and it spends way more than the US does.

The other thing that’s surprising is that Japan is usually considered a model of reckless profligacy–and it spends less as a share of GDP than the US does.

A couple of other interesting charts from the report include this one, which shows that pre-crisis, our spending to GDP was pretty stable (not exploding at all).

government spending to GDP

Photo: Deutsche Bank

On the other hand, it is true that healthcare spending has grown fairly significantly as a category of government spending.

healthcare spending

Photo: Duetsche Bank

SEE ALSO: Krugman: The deficit is basically solved >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.