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s done using the GDP deflator Source: Calculations based on Economic Report of the President, 2020 [pp. 282,286,325,381]. Adjusting for Inflation Adjusting for Population Relative to Economy 18 Government Expenditures as a Percentage of GDP (2020) United States Source: Organization for Economic Cooperation and Development [2020a]. 19 Composition of Federal Expenditures (1965 and 2020) Note decline in Defense Note increase in Social Security, Medicare and Ine Security Source: Economic Report of the President, 2020 [p. 379]. 110 Source: Economic Report of the President 2020, [p. 389]. Composition of State amp。 Local Expenditures (1965 and 2020) Increase in public welfare Decline in highways 111 Source: Economic Report of the President [2020, p. 37