Lower net foreign spending raises consumption of services.
What's needed to restore output and employment is an increase in net spending, either public or private.
FY 2006, Defense Department base budget expenditures were $411 billion, nearly half of net discretionary spending.
Under the Dole plan, net spending on other programs rises from $584 billion to $664 billion, or 4.6 percent.
They will also criticize Mr. Clinton for relying on tax increases while making no significant reduction in net spending.
By 2035, Medicare's net spending would be about 5 percent below what it otherwise would be-4.7 percent of GDP rather than 5.0 percent under current law.
But this net spending on foreign goods and services means that some of America's demand is lost to overseas economies.
The total net spending per head of population on education rose from £578.08 in 2006/07 to £632.88 in 2007/08.
I don't think, though, that net spending is an indication of anything.
The FA accounts show that although net spending was £14m, the total expenditure over two years was £21m.