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Author: MadCapitalist Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 753765  
Subject: America’s stunning entitlements explosion Date: 12/6/2012 4:06 PM
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10 charts showing America’s stunning entitlements explosion

1. Although Social Security already existed, the Great Society launched the ever-expanding modern American welfare state:

2. The rate of entitlement growth per capita has been nearly twice as fast as per capita income growth for the last fifty years

3. In the 1960s, the federal government spent $2 on governing for each $1 it spent on entitlement transfers. Today that ratio has completely flipped:

4. It took only two generations for transfers to displace everything else the federal government does.

5. Here’s where the money goes:

6. In 1969, government benefits accounted for 7.8% of Americans’ personal income.

7. In 2009, government benefits accounted for nearly 18% of Americans’ income. And the regions which relied most on benefits in 1969 have become even more dependent.

8. Nearly 50% of the U.S. population lives in a household that receives some government benefits.

9. 31% of US households are receiving means-tested public benefits.

10. As the Welfare State has expanded, Americans are working less.

http://www.aei-ideas.org/2012/12/americas-entitlement-epidem...

Yikes! Look at the charts.
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Author: tjscott0 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 658614 of 753765
Subject: Re: America’s stunning entitlements explos Date: 12/6/2012 7:09 PM
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All true MC. Though I think we both know that SS & Medicare makes up the majority of that spending & those programs so far have been untouchable. Combined they are 46-47% of the annual federal budget. The next biggest nondefense items are welfare & education spending. But even if they were totally eliminated--its only 15% of the budget.

Its gonna require major reductions in SS, Medicare & Defense budgets. Both parties are purty much gutless on doing what is necessary to prevent bankruptcy.

I hear much avowing here & on discussion boards:"I gonna git my SS & Medicares. I paid for them." I don't think so. IMHO, those with higher incomes eventually middle income will be getting much less than what was paid into those programs.
Those beenies will be clawed back to the gov't via higher medicare premiums & taxation of social security benefits.

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