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.”
The economist gives the country two stark choices. In order to get welfare back to its pre-recession ratio of 26 percent of pay, “either wages and salaries would have to increase $2.3 trillion, or 35 percent, to $8.8 trillion, or social welfare benefits would have to decline $500 billion, or 23 percent, to $1.7 trillion,” she said.
Last month, the Republican-led House of Representatives passed a $61 billion federal spending cut, but Senate Democratic leaders and the White House made it clear that had no chance of becoming law. Short-term resolutions passed have averted a government shutdown that could have occurred this month, as Vice President Biden leads negotiations with Republican leaders on some sort of long-term compromise.....http://www.cnbc.com/id/41969508
Wow, I had no idea that Social Security, Medicare, and unemployment insurance were all "handouts"? Oh, wait, they're not. We all pay in to those programs with the hopes of never needing to use unemployment insurance, to maintain a standard of living with SS, and to get health care if needed with Medicare. I don't give a damn that I pay for unemployment insurance and that I don't use it. I hope I never have to use it. It's my contribution for living in a society.
This article is just another right-wing dog whistle for all of the Republicans to pant over.
This article is just another right-wing dog whistle for all of the Republicans to pant over.
LMAO... Describes it exactly!
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Yup....they're right wing now, huh? Them turn coat bastards! It must be a lie!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Isn't CNBC the employer of Rick Santelli, the loudmouth blowhard who blamed the "loser" homeowners for the financial collapse? He originated the call for a "tea party" movement during his tirade against the middle class. But no, CNBC is not right-wing at all.
Isn't CNBC the employer of Rick Santelli, the loudmouth blowhard who blamed the "loser" homeowners for the financial collapse? He originated the call for a "tea party" movement during his tirade against the middle class. But no, CNBC is not right-wing at all.
You're serious too?? NBC - Right Wing.
MSNBC employs Joe Scarbourough, and Pat Buchanan is a contributor, they must be another Right Wing media outlet.
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
GE, Obama's biggest fan! But really, welfare made the country great. It did.
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
Wow, I had no idea that Social Security, Medicare, and unemployment insurance were all "handouts"? Oh, wait, they're not. We all pay in to those programs with the hopes of never needing to use unemployment insurance, to maintain a standard of living with SS, and to get health care if needed with Medicare. I don't give a damn that I pay for unemployment insurance and that I don't use it. I hope I never have to use it. It's my contribution for living in a society.
This article is just another right-wing dog whistle for all of the Republicans to pant over.
They are handouts when the government chooses to take control of them.....otherwise before the government THE CHURCHES did it as did YOUR NEIGHBOR/MY NEIGHBOR....then all of a sudden the whiny cry babies that didn't like the urbanization of the country all cried "they need to do something.".....so here we are supposedly doing something...it's called the 'atlease we have/do' syndrome it's F'D up and wrong......IT SHOULD NEVER BE THE NORM OR ACCEPTED AS OK.......when it is---it removes the soul of a nation....
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Wow, I had no idea that Social Security, Medicare, and unemployment insurance were all "handouts"? Oh, wait, they're not. We all pay in to those programs with the hopes of never needing to use unemployment insurance, to maintain a standard of living with SS, and to get health care if needed with Medicare. I don't give a damn that I pay for unemployment insurance and that I don't use it. I hope I never have to use it. It's my contribution for living in a society.
This article is just another right-wing dog whistle for all of the Republicans to pant over.
Would you be in favor of people opting out of those programs if they believe they could do better with their money?
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
Logged
