More on Banking Than on Food

Floyd Norris has an interesting piece on the revision of economic statistics in the NYTimes

"In the new treatment, it appears Americans are spending more on financial services and insurance — $823 billion a year at the current rate, or 8.2 percent of personal consumption spending — than they are on food and beverages to be consumed at home — $788 billion, or 7.9 percent."

Note the $823 billion is much more than we spend on national security. Where's William Jennings Bryan and his Cross of Gold speech?