In most developed countries,the largest and fastest growing component of government expenditure has been

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Transfer payments, such as social security, Medicare, and welfare, have become the largest and fastest growing component of government expenditure in most developed countries. This is due to demographic factors such as an aging population, as well as a desire to provide a safety net for those in need. Other areas of expenditure, such as national defense and interest on the national debt, may also be significant but generally do not grow at the same rate as transfer payments.

In Most Developed Countries,the Largest and Fastest Growing Component of Government