Gross capital investment by US public sector at lowest since 1947

Gross capital investment by US public sector at lowest since 1947

By Michael Hennigan, Finfacts founder and editor
Nov 4, 2013 | http://www.finfacts.ie/irishfinancenews/article_1026785.shtml
Gross capital investment by the US public sector has dropped to just 3.6% of US economic output, the lowest since 1947, compared with a postwar average of 5%, according to figures compiled by the Financial Times, as austerity bites in the world’s largest economy. With an impasse on entitlement reform in areas such as social security and health, the Republican Party has been successful in reducing investment spending that is in effect an investment for the future.