Little-Acorn
03-08-2011, 06:21 PM
Stunning.
And what's even worse? The government doesn't have the money to pay it. They have to borrow money to make ANY of these payments.
That's flat-out terrifying.
The liberal utopia is almost upon us. One third of the money the country relies on to live, they depend on the Government for.
Once more than 50% of the population depends on government for their pay, will we EVER see another majority vote to cut government spending... EVER???
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http://www.cnbc.com/id/41969508
Welfare State: Handouts Make Up One-Third of U.S. Wages
by John Melloy
Executive Producer, Fast Money
Published: Tuesday, 8 Mar 2011 | 3:59 PM ET
Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.
Even as the economy has recovered, social welfare benefits make up 35 percent of wages and salaries this year, up from 21 percent in 2000 and 10 percent in 1960, according to TrimTabs Investment Research using Bureau of Economic Analysis data.
“The U.S. economy has become alarmingly dependent on government stimulus,” said Madeline Schnapp, director of Macroeconomic Research at TrimTabs, in a note to clients. “Consumption supported by wages and salaries is a much stronger foundation for economic growth than consumption based on social welfare benefits.”
And what's even worse? The government doesn't have the money to pay it. They have to borrow money to make ANY of these payments.
That's flat-out terrifying.
The liberal utopia is almost upon us. One third of the money the country relies on to live, they depend on the Government for.
Once more than 50% of the population depends on government for their pay, will we EVER see another majority vote to cut government spending... EVER???
-------------------------------------
http://www.cnbc.com/id/41969508
Welfare State: Handouts Make Up One-Third of U.S. Wages
by John Melloy
Executive Producer, Fast Money
Published: Tuesday, 8 Mar 2011 | 3:59 PM ET
Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.
Even as the economy has recovered, social welfare benefits make up 35 percent of wages and salaries this year, up from 21 percent in 2000 and 10 percent in 1960, according to TrimTabs Investment Research using Bureau of Economic Analysis data.
“The U.S. economy has become alarmingly dependent on government stimulus,” said Madeline Schnapp, director of Macroeconomic Research at TrimTabs, in a note to clients. “Consumption supported by wages and salaries is a much stronger foundation for economic growth than consumption based on social welfare benefits.”