Report Shows Reliance on Government Income at an All Time High
Americans are relying more on federal government aid than ever before according to an analysis of federal data conducted by USA Today.
Last year, 18.3 percent of American income came from government programs such as Social Security, Medicare, unemployment benefits and food stamps, while earned income accounted for only 50.1 percent, the lowest number recorded.
The percentage of government income Americans received hovered around 12 percent during the 80s and 90s but rose during the last decade, the report says, due to an aging population, the economic downturn and an expansion of health care benefits. The biggest increase took place in the back half of the decade as the recession took hold.
When looking at those percentages as actual income, the amount of money the average American received from the government doubled from 1990 to 2010, increasing from $3,686 to $7,427, adjusted for inflation.
The report notes that Medicare spending is set to skyrocket once Baby Boomers start to retire in the coming years. Most were still working in 2010.
Sounds like people need to learn to take care of themselves and the government needs to stop paying for niceties like internet, cell phones and junk food.
Answer by scout_mom at 5:18 PM on Apr. 26, 2011
Answer by yourspecialkid at 3:10 PM on Apr. 26, 2011
Answer by jewjewbee at 2:32 PM on Apr. 26, 2011
Answer by jewjewbee at 3:02 PM on Apr. 26, 2011
Answer by itsmesteph11 at 4:26 PM on Apr. 26, 2011
Answer by ramita at 5:11 PM on Apr. 26, 2011
Answer by Anonymous at 5:16 PM on Apr. 26, 2011
Answer by LoriKeet at 9:02 PM on Apr. 26, 2011
set to skyrocket once Baby Boomers start to retire in the coming years
a little late here, 10,000 people apply for SS out of the BB generation NOW daily
Answer by jewjewbee at 2:34 PM on Apr. 26, 2011
Answer by Sisteract at 3:26 PM on Apr. 26, 2011