USA Today on Federal Income Dependence

http://www.futureofcapitalism.com/2011/04/usa-today-on-federal-income-dependence

USA Today reports:

Americans depended more on government assistance in 2010 than at any other time in the nation's history, a USA TODAY analysis of federal data finds. The trend shows few signs of easing, even though the economic recovery is nearly 2 years old.

A record 18.3% of the nation's total personal income was a payment from the government for Social Security, Medicare, food stamps, unemployment benefits and other programs in 2010. Wages accounted for the lowest share of income — 51.0% — since the government began keeping track in 1929....

Americans got an average of $7,427 in benefits each in 2010, up from an inflation-adjusted $4,763 in 2000 and $3,686 in 1990. The federal government pays about 90% of the benefits.

Thanks to reader-participant-community member-watchdog-content co-creator C. for sending the tip.

by Editor  |  Apr 26, 2011 at 8:06 am Related Topics:  Government Spending receive the latest by email: subscribe to the free futureofcapitalism.com mailing list