This is the story of why the U.S. government is spending more on residential construction than anywhere else in the world, and how the cost of living is a major contributor to the country’s soaring cost of borrowing.
It’s also a story of how we’re all making too much money, according to a new report from the Brookings Institution.
“In a country with so much money in our pockets, we are being very foolishly generous with our money,” the report states.
For instance, Americans are spending an average of $5,000 more on average a year than they would in China, according the report.
And in the U, the average American household spends nearly $10,000 on a home, with average salaries of $51,400, compared to $49,600 in China.
According to the report, China’s construction costs are “far lower than in the United States.”
And while the U’s construction cost index is only 0.9 percent higher than that of China, the cost in the rest of the world is over 4,000 percent higher.
Americans, meanwhile, are spending more than any other nation on the planet on health care, which is more than double what they spend in China and over 5,000 times the U.’s.
The U.K., the report finds, is spending $9,000 per person per year more on health insurance than China, while Japan spends more on medical care than the U., but is spending the least on housing.
And in the past year, Americans spent more than twice as much on the federal debt than any country, with U.N. reports predicting the U will surpass China in the debt-to-GDP ratio next year.
But the report also points to a much bigger problem.
While the U is spending far more on healthcare than any of its neighbors, in the first quarter of this year, the country had only one healthcare provider.
And it has been unable to hire enough doctors to meet demand for care.
The report cites the high cost of healthcare as one of the main reasons why Americans are not willing to spend the money on housing, which will increase the cost to taxpayers in the long run.
In other words, the report warns that the country needs to consider the long-term implications of a ballooning national debt and the cost-to the economy of paying for housing.