Chart of the Day: How We Spend Our Money

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.

Via Brad Plumer, here’s an interesting chart from the BLS showing how much we spend on stuff compared to a few selected other countries. We spend a lot more on housing than the other countries, somewhat more on healthcare, and quite a bit less on food. Hooray factory farming!

Brad has some commentary to go along with this chart, but I have a different takeaway. Looking at these numbers, it’s hard not to conclude that we have a lot of headroom on healthcare. I could easily see healthcare rising to at least the same level as food expenditures, and maybe as high as transportation too. That could happen because we collectively decide to spend less on food and transportation, or it could happen just by spending the same fixed amount on these items as wages rise, and then plowing all of our additional income into healthcare. On past performance, that might very well be something we do happily.

In other words, it’s true that to some extent rising healthcare expenditures provide their own pushback. When we collectively decide we’re spending too much, we’ll collectively start reining in our spending. But as the chart below makes clear, that time could be quite a way away.

Dear Reader,

This feels like the most important fundraising drive since I've been CEO of Mother Jones, with staggeringly high stakes and so much uncertainty. In "News Is Just Like Waste Management," I try to unpack the reality we all face and how we can rise to the challenge. If you're able to, this is a critical moment to support Mother Jones’ nonprofit journalism: We need to raise $400,000 to help cover the vital reporting projects we have planned, and right now is no time to pull back.

Monika Bauerlein, CEO, Mother Jones

Dear Reader,

This feels like the most important fundraising drive since I've been CEO of Mother Jones, with staggeringly high stakes and so much uncertainty. In "News Is Just Like Waste Management," I try to unpack the reality we all face and how we can rise to the challenge. If you're able to, this is a critical moment to support Mother Jones’ nonprofit journalism: We need to raise $400,000 to help cover the vital reporting projects we have planned, and right now is no time to pull back.

Monika Bauerlein, CEO, Mother Jones

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate