U.S. entitlement to discretionary spending ratio will hit 5:1 within a decade
Michael Cembalest · Michael Cembalest – Eye on the Market (Capital Allocators, EP.49) · Apr 23, 2018 · at 49:15
Michael Cembalest discusses federal budget divergence between mandatory entitlement spending and discretionary spending.
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“Because in 1970, the country spent the same amount on entitlement spending As it did on all of the rest of the non-entitlement discretionary spending. And so that one to one ratio became one and a half to one, then two to one. And now it's three to one, and it's heading to five to one over the next decade.”
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