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T-Ayesterday at 10:21 PM0 repliesview on HN

government, where two thirds of spending comprises transfer payments that help households bridge the gap between their spending, retirement, and health care needs and their wages and salaries [1]

The market comment linked in the paragraph above that one features a toy model of the US economy which illustrates this (section "Equilibrium in output and income"). [2]

[1] https://www.hussmanfunds.com/comment/mc260219/

[2] https://www.hussmanfunds.com/comment/mc260104/