mcintosh on Nostr: I’m sure these numbers are true . They certainly “feel” true because it seems ...

I’m sure these numbers are true . They certainly “feel” true because it seems to me that outside those two areas we are completely stagnant. But that’s not real growth…especially with the governmental jobs.

Recession is coming I’m afraid.

quoting note1jrj…wflx

This is incredible:
US consumer spending on healthcare and government expenditures accounted for over 50% of US GDP growth in Q3 2024.
Consumer spending on healthcare services alone accounted for 25% of GDP growth in Q3 2024.
Government spending accounted for 28%, a combined total of ~53%.
The majority US economic growth now comes from healthcare and the government through taxes and debt.
Since January 2023, the government has created more jobs than the tech, finance, construction, and manufacturing sectors COMBINED.
What happens if @DOGE cuts these jobs?