government, where two thirds of spending comprises transfer payments that help households bridge the gap between their spending, retirement, and health care needs and their wages and salaries [1]

The market comment linked in the paragraph above that one features a toy model of the US economy which illustrates this (section "Equilibrium in output and income"). [2]

[1] https://www.hussmanfunds.com/comment/mc260219/

[2] https://www.hussmanfunds.com/comment/mc260104/