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Economic Perspectives, Vol. 10, No. January/February, 1986
Federal Funds Flow No Bargain for Midwest
The federal government is an important force in the national economy. Since 1950, federal government spending has increased more than twenty-fold, from $43 billion to $946 billion in fiscal 1985. Currently, expenditures of the federal sector represent about one-fourth of the country's total output or gross national product (GNP); in 1950 the federal sector represented only about one-seventh of GNP. How and where the congress a nd the administration decide to obtain revenues and to spend funds can have a significant and varying impact on geographic areas of the country.
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