Josh Hendrickson on Economic Growth, National Defense, and US Monetary Policy
Macro Musings with David Beckworth
00:00
National Defense
i want to begin by just mentioning a couple of pieces read by noah smith on his sub stack. And he responds to a number of progressives who are just besides themselves because of biden's 815 billion dollar proposal for the defence budget. He also goes through and distnotes how defense spending as a % of g d p has declined. Also, if you look at total government spending, it actually has grown as a percentave g d p which means then that a greater and greater share is going to non defense spending. So these other areas are getting more big shares over time. I'm going to throw in there also tell events that we should be preparing for, kind ofo
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