The Current Source of Americans' Income

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USA Today has posted an article stating that one out of every six dollars earned by Americans is from the government.  This income amounts to 16.2 % of personal income during the first quarter of 2009.  That is the highest percentage since record keeping began in 1929.  This includes all government benefit programs--Social Security, food stamps, medical benefits, and unemployment insurance. 

The article states that:

"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. Benefits rose at a 19% annual rate in the first quarter compared to the last three months of 2008."

That is not sustainable.  There has been a $209 billion increase in government benefit costs from a year ago.  Part of the problem is that we have reached the tipping point where more than 50% of Americans do not pay any income tax.  Therefore, there is no incentive among voters to rein in spending.  If this trend continues, prosperity and the American dream will become a distant memory.

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This page contains a single entry by Granny G published on June 4, 2009 8:49 AM.

The Senate Healthcare Reform Bill Will Be Introduced Next Week was the previous entry in this blog.

Some Numbers On Healthcare Costs is the next entry in this blog.

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