Federal Government Outlays Remain Historically Elevated, Spurred by Robust Transfers

Huixin Bi and Alison Felix

Economic Bulletin, 2024, 4

Abstract: Over the past six decades, the federal government has shifted a larger share of its outlays toward transfer payments to individuals and state and local governments. These longer-run trends were exacerbated during the pandemic, leading to higher deficits for the federal government and an increasingly high share of federal outlays supporting the economy through consumer spending.

Keywords: government transfers; deficits; unemployment; economic recovery (search for similar items in EconPapers)
Date: 2024
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