Transfer Spending, Taxes, and the American Welfare State

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In 1989, the federal government's staggering expenditure of $1,197 billion significantly impacted American lives, averaging $4,811 per person and $19,244 for a family of four. The book explores the complexities of this spending, highlighting the $150 billion deficit financed through borrowing from various sources. It delves into the intricate ways federal spending influences the economy and the daily lives of citizens, emphasizing that understanding this financial landscape is crucial for grasping its broader implications on American society.