It appears fair to say that an increase in total government size of ten percentage points in tax revenue or expenditure as a share of GDP is on average associated with an annual lower growth rate of between one-half and one percentage point.
FORBES: Study From Swedish Economists Allows Us To Quantify Cost Of Bush-Obama Spending Binge
The next biggest expenditure, I believe, in the composition of the total is the payroll tax cut.
WHITEHOUSE: Press Briefing
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