Article: Entitlements, Public Investment, and the Changing Nature of the U.S. Government
1. How has the composition of government spending changed since the 1960's? Support your answer with examples from the article.
2. Then explain how the various categories of federal government spending (such as spending on entitlements, or infrastructure or basic research) qualify as either consumption or investment spending. In your answer, be sure to define the terms ‘consumption' and ‘investment.'
3. Explain how the changing pattern of government spending affects the real economic burden of the national debt.