Back in the early 60s, medicare and medicaid combined were. 1 of gdp. Gdpal security was 2. 6 of and Discretionary Spending was 11 and a half percent of gdp. Medicaid arere and 5. 6 of gdp, Social Security is 4. 9 and discretionary expenditures has shrunk to six and a half percent of gdp. Why is that important . Are reallyyments consumption and you do not get that much return on your investment and i want to highlight the blue line. Back in the 60s, investments as a percentage of the federal budget was higher than transfer payments. They were 32 . They have gone down to 15 . For the republicans in the audience, if there are any in berkeley, california. [laughter] i want to remind you that Government Spending can be a lot more effective than what some of you have been putting out there in the press. What did you get for this blueline . , theot the internet, gps interstate highway system, and we got grants that have moved the needle dramatically on cancer and other diseases. What has bee
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