Government Expenditures
Economists classify government expenditures into three main types. Government purchases of goods and services for current use are classed as government consumption. Government purchases of goods and services intended to create future benefits--- such as infrastructure investment or research spending--- are classed as government investment. Government expenditures that are not purchases of goods and services, and instead just represent transfers of money--- such as social security payments--- are called transfer payments.
Read more about this topic: Public Finance
Famous quotes containing the word government:
“America has made no reparation to the Vietnamese, nothing. We are the richest people in the world and they are among the poorest. We savaged them, though they had never hurt us, and we cannot find it in our hearts, our honor, to give them help—because the government of Vietnam is Communist. And perhaps because they won.”
—Martha Gellhorn (b. 1908)