USA/Today story: Benefit spending soars to new high
The recession is driving the safety net of government benefits to a historic high, as one of every six dollars of Americans’ income is now coming in the form of a federal or state check or voucher.
Benefits, such as Social Security, food stamps, unemployment insurance and health care, accounted for 16.2% of personal income in the first quarter of 2009, the Bureau of Economic Analysis reports. That’s the highest percentage since the government began compiling records in 1929. [More than 30s] In all, government spending on benefits will top $2 trillion in 2009 — an average of $17,000 provided to each U.S. household, federal data show…
[This is not capitalism; this is a welfare state run amuck.]
Posts
No comments:
Post a Comment
You are not entitled to your opinion. You are entitled to your informed opinion. No one is entitled to be ignorant.
Harlan Ellison