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As far as I can see, the only way to do this is to add up all social benefit costs to the wage and pension bill. This would include stuff like hospital equipment and new schools, along with disability pensions, unemployment benefits etc. If one includes government funding for the Social Security Funds (which theoretically, one shouldn't conflate with the pensions - these are management costs, past debts and constitutional guarantees mostly), one can reach 40% of non-interest public expenditure. I would be really interested in seeing some plausible explanation for the 70% number.

The road of excess leads to the palace of wisdom - William Blake
by talos (mihalis at gmail dot com) on Tue May 25th, 2010 at 09:45:04 AM EST
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Include all the costs for things like supporting the scattered islands, subsidies for ferrys (?) and public transport, everything other than the two proper functions of government, property protection and military spending.
by Colman (colman at eurotrib.com) on Tue May 25th, 2010 at 09:49:16 AM EST
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Colman:
everything other than the two proper functions of government, property protection and military spending.

Colman you are getting too good at this lol

good thing there's a snark macro, it'd be brutal without.

oh dear...

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Tue May 25th, 2010 at 02:08:59 PM EST
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