I don't think I presented it as any kind of measure of standard of living. Median income is definitely related to standard of living, but as you point out, GDP is not because it can be very concentrated. I'm not totally sure how that relates to what I posted though. Can you explain more?
Well, it seems to me that you are using GDP as an arguement for welfare. Though I do agree we as a nation reap
some of the rewards of our GDP. I don't think that the rewards are so grand that we can discount the money that is wasted on welfare.
No not all is a waste, there are those who truly need it. However, their is fraud in the system, and as a nation we are not living high enough of the government hog to discount it.
Of our GDP, more money is allocated to government pensions than social security. I think it's comical that a politicians still would have us believe that social security won't eventually collapse on itself, yet their faith in the system is so low that they require money from our GDP for retirement that is greater than the entire combined allocation for the nation.
Heck, the money allocated for pensions is greater than public welfare and public education.
That is sad.
Our base budget for military defense is roughly 600 billion, but we have spent nearly double that overseas.
The fact is, if the benefits we received from GDP were more evident, one could argue the welfare fraud is not worth worrying about. Sadly though, of our GDP we really don't see that much from it.
If government can get their spending under control I can whole heartedly support the welfare system fraud and all.
Also, when I say control spending, I am not saying necessarily saying cut it, but better allocation is in order.
Seriously if the politicians could deal with social security and private investing like the rest of every other American. We could double our education funding.
If every kid in this country had a shot at college, how much would welfare drop?
Fix the spending, and the fraud and waste will fix itself.
Until then though, I count my pennies and let my dollars take care of themselves.