By Kevin Price, Publisher and Editor in Chief, US Daily Review.
(US Daily Review)—We all realize that different types of governments cost various amounts to run. Those in which the government does less, typically have stronger financial portfolios. Those in which the government does more have much weaker financial pictures.
Fox News asked “How much money does it take for the governments of sovereign nations to do their job?” Those that are socialist or social democratic suffer from huge budgets and looming deficits as they strive to provide “cradle-to-grave” spending programs. Most Americans assume that countries like Sweden and France have massive governments compared to the US. They also think France, Finland, and the UK are much larger in their spending per person. This is not the case anymore, according to economist and author, John Lott. Those who oppose European style socialism do not have to wait for that system to arrive in the US. Lott warns that type of government has already arrived.
Most Americans are probably not surprised that US spending is higher than other countries, but when you factor in cost of living and total population, our budgets “are much lower” than other countries, it is often perceived. In reality, government spending accounts for more real resources per capita than “95 percent of the countries in the world,” according to Lott. In fact, only “166 out of 175? countries have smaller real budgets than the US, according to Lott.
The numbers, when it comes to government spending, are frightening. The US government spends 276 percent more than is spent by the average government of another country around the world. This type of spending amounts to about $17,400 per person living in the United States or $70,000 for a family of four.
The one country that is most famous for its “welfare state” is Sweden, yet it only spends about 8.6 percent more per capita than the US. This figure is far less than most Americans would likely assume. How about France? Americans seem to enjoy making fun of France’s fame for government dependency. The bad news for Americans is that France spends virtually the same amount as the United States. The difference between the US and France is a mere 1.6 percent when it comes to spending.