Wednesday, May 10, 2006

The Post-affluent Society

Columnist Robert Samuelson (alternate links here and here) plays variations on a Galbraithian theme.

Update: Blogger Andrew Sullivan draws attention to this fact from the Samuelson column:

In 1954 defense accounted for 69.5 percent of federal spending and "human resources" (programs such as Social Security, Medicare, job training and food stamps) only 18.5 percent. In 2005 defense was 20 percent and human resources 64.2 percent.
It prompts this reaction from Sullivan:

Forget the military-industrial complex. Our new threat is the senior-entitlement complex.