How we spend
For lack of time to create this graph myself to make sure it's accurate and all that. I'm just posting it here, with the caveat that I haven't checked. One day, I will. Maybe when I work on a book project.
The graph comes from a Market Watch article and shows in the aggregate how Americans spend money. Notice that we spend the most on housing, keeping the lights on, and health care. Next up is financial services.
So, when people argue for spending more in one category say, catastrophe insurance, what category should we spend less on? And what sort of knock-on affects with this changing spending pattern have on other industries and jobs.
Another question to ask, is what is a reasonable amount to expect for people to pay for housing, utilities, health care, and financial services. It would seem that the American public is pretty tapped out on what they are willing and able to spend on health care? The general rule of thumb for reasonable housing (and all associated expenses including insurances) is 30% of income. But it is fairly common for people to spend more than that and well, talk about a top down approach for morally judging how people ought to live.