0am:The Santee, SC forecast for Apr 11 is 63 degrees and Clear. There is 74 percentage chance of rain and 4 mph winds from the South-Southeast. 3am:The Santee, SC forecast for Apr 11 is 55 degrees and Clear. There is 79 percentage chance of rain and 4 mph winds from the South.
Consumer spending makes up more than 70 percent of the economy, and it usually drives growth during economic recoveries.â ââConsumers Give Boost to Economy,â New York Times, May 1. Every quarter, when the government releases its latest GDP figures, we hear the familiar refrain: âWhat the consumer does is vital for economic growth.â âIf the consumer starts saving and stops spending, weâre in big trouble.â âConsumer spending accounts for 70 percent of the economy.â The latter âfactâ crops up regularly in the news reports from the Associated Press, the Wall Street Journal, and the New York Times. The truth is that consumer spending is not the mainstay of the U. S. economy. Investment is. Business spending on capital goods, new technology, entrepreneurship, and productivity is more significant than consumer spending in sustaining the economy and a higher standard of living.
How the US looks after its veterans. Chart 2.36: US Veterans Spending. At the start of the 20th century the US spent about 0.6 percent of GDP on its veterans. By the start of World War I veterans spending had declined to 0.5 percent of GDP and to 0.3 percent by the end of the war.ut 9/11, the terrorist attack on iconic US buildings in 2001, changed that, and defense spending began a substantial increase in two stages. First, it increased to 4.6 percent by 2005 for the invasion of Iraq, and then to 5.0 percent in 2008 for the the surge in Iraq.