In a September 16, 2010, article from The Wall Street Journal (link below) there are some staggering - and frightening - figures discussed.
Obstacle to Deficit Cutting: A Nation on Entitlements
For instance, in discussing government benefits to individuals (of any and all types and kinds):
"Payments to individuals -- a budget category that includes all federal benefit programs plus retirement benefits for federal workers -- will cost $2.4 trillion this year, up 79%, adjusted for inflation, from a decade earlier when the economy was stronger. That represents 64.3% of all federal outlays, the highest percentage in the 70 years the government has been measuring it. The figure was 46.7% in 1990 and 26.2% in 1960."
The 64.3% figure of all federal outlays is huge, especially considering how much money flows through the federal government.
One thing to keep in mind, this is only at the federal level, not state or municipal.
A few other disturbing facts:
"Nearly half of all Americans live in a household in which someone receives government benefits, more than at any time in history.
"At the same time, the fraction of American households not paying federal income taxes has also grown -- to an estimated 45% in 2010, from 39% five years ago, according to the Tax Policy Center, a nonpartisan research organization.
"A little more than half don't earn enough to be taxed; the rest take so many credits and deductions they don't owe anything. Most still get hit with Medicare and Social Security payroll taxes, but 13% of all U.S. households pay neither federal income nor payroll taxes."
The math is not good.
As pointed out by the WSJ, the U.S. entitlement programs began in 1935. They have grown since, sometimes slowly, other times by would would seem leaps and bounds.
It is very worthwhile for all members of Main Street USA to read and pass along this article.
Over For Now.
Main Street One
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