ANOTHER OBAMA RECORD Social Welfare Benefits Now Make Up 35% of US Wages & Salaries

[TheSeeker]

Another Obama Record!

Government handouts now make up 35% of American wages and salaries.
CNBC reported:

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.

 

[TheSeeker]

Bump...because I can't believe no one cares about this!!??

 

[Steve Hanson]

Bump...because I can't believe no one cares about this!!??

I care. This is sick and disgusting. Stealing this for another site too.

 

[LordBrownTrout]

I care. It's sickening. If we don't reverse real soon, we're done.

 

[TheSeeker]

LOL.....Dude!

I know Dave Hanson.....he's the rink manager at a skating rink I skate at near Pittsburgh!!

 

[8537]

During a recession, incomes decline and expenses related to the safety net go up. Add in the first wave of baby-boomer retirements and the absurdity we call "Medicare Part D" and this finding really shouldn't be surprising.

 

[Steve Hanson]

LOL.....Dude!

I know Dave Hanson.....he's the rink manager at a skating rink I skate at near Pittsburgh!!

Cool, They were great characters.

 

[Avorysuds]

But it all looked so good on paper... Now if every President runs the country JUST LIKE me, no wars, no economy shifts, no nothing different.... America's will never have to work and still be rich!

 

[TheSeeker]

Or maybe Bush was right all along....stimulate the "evil rich" to get people back to work and you'd see this number drop as well as increasing government revenues at the same time.

 

[8537]

Or maybe Bush was right all along....stimulate the "evil rich" to get people back to work and you'd see this number drop as well as increasing government revenues at the same time.

Bush cut taxes in 2001. Real federal revenues declined and didn't reach 2000 levels until 2006.

The economy lost jobs consistently for over four years during his term.

 

[TheSeeker]

But it all looked so good on paper... Now if every President runs the country JUST LIKE me, no wars, no economy shifts, no nothing different.... America's will never have to work and still be rich!

Obama's policies didn't ever look good...... on a teleprompter or even written on toilet paper.

 

[TheSeeker]

Or maybe Bush was right all along....stimulate the "evil rich" to get people back to work and you'd see this number drop as well as increasing government revenues at the same time.

Bush cut taxes in 2001. Real federal revenues declined and didn't reach 2000 levels until 2006.

The economy lost jobs consistently for over four years during his term.

Bush tax cuts in 2003 ushered in 52 Months of increased growth, full-employment, and record government revenues.....

The Facts About Tax Cuts, Revenue, and Growth

Bush Tax Cuts: President George W. Bush’s 2003 tax cuts generated a massive increase in federal tax revenue and were followed by 52 consecutive months of economic growth. From 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history. Total federal revenue from 2003 to 2007:

2003 -- $1.78 trillion

2004 -- $1.88 trillion

2005 -- $2.15 trillion

2006 -- $2.40 trillion

2007 -- $2.56 trillion

 

[TheSeeker]

The economy lost jobs consistently for over four years during his term.

Look at 2003 -2008...that's losing jobs?

 

[8537]

Or maybe Bush was right all along....stimulate the "evil rich" to get people back to work and you'd see this number drop as well as increasing government revenues at the same time.

Bush cut taxes in 2001. Real federal revenues declined and didn't reach 2000 levels until 2006.

The economy lost jobs consistently for over four years during his term.

Bush tax cuts in 2003 ushered in 52 Months of increased growth, full-employment, and record government revenues.....

The Facts About Tax Cuts, Revenue, and Growth

Bush Tax Cuts: President George W. Bush’s 2003 tax cuts generated a massive increase in federal tax revenue and were followed by 52 consecutive months of economic growth. From 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history. Total federal revenue from 2003 to 2007:

2003 -- $1.78 trillion

2004 -- $1.88 trillion

2005 -- $2.15 trillion

2006 -- $2.40 trillion

2007 -- $2.56 trillion

Yet another person who doesn't understand the difference between Real and Nominal dollars.

 

[Jarhead]

Bush cut taxes in 2001. Real federal revenues declined and didn't reach 2000 levels until 2006.

The economy lost jobs consistently for over four years during his term.

Bush tax cuts in 2003 ushered in 52 Months of increased growth, full-employment, and record government revenues.....

The Facts About Tax Cuts, Revenue, and Growth

Bush Tax Cuts: President George W. Bush’s 2003 tax cuts generated a massive increase in federal tax revenue and were followed by 52 consecutive months of economic growth. From 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history. Total federal revenue from 2003 to 2007:

2003 -- $1.78 trillion

2004 -- $1.88 trillion

2005 -- $2.15 trillion

2006 -- $2.40 trillion

2007 -- $2.56 trillion

Yet another person who doesn't understand the difference between Real and Nominal dollars.

Im a pretty bright guy...

Please explain...I lost you on that one.

 

[8537]

The economy lost jobs consistently for over four years during his term.

Look at 2003 -2008...that's losing jobs?

Yet another person that doesn't understand the difference between the U3 and employment. Notice anything in these monthly employment figures?

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2001 -16 61 -30 -281 -44 -128 -125 -160 -244 -325 -292 -178
2002 -132 -147 -24 -85 -7 45 -97 -16 -55 126 8 -156
2003 83 -158 -212 -49 -6 -2 25 -42 103 203 18 124
2004 150 43 338 250 310 81 47 121 160 351 64 132

How about these for total employment?

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2001 132469 132530 132500 132219 132175 132047 131922 131762 131518 131193 130901 130723

2002 130591 130444 130420 130335 130328 130373 130276 130260 130205 130331 130339 130183

2003 130266 130108 129896 129847 129841 129839 129864 129822 129925 130128 130146 130270

2004 130420 130463 130801 131051 131361 131442 131489 131610 131770 132121 132185 132317

 

[Soggy in NOLA]

Bush tax cuts in 2003 ushered in 52 Months of increased growth, full-employment, and record government revenues.....

The Facts About Tax Cuts, Revenue, and Growth

Yet another person who doesn't understand the difference between Real and Nominal dollars.

Im a pretty bright guy...

Please explain...I lost you on that one.

It's all Bush's fault.

There, explained.

 

[Foxfyre]

You can find charts and graphs on the internet to support just about anything you want to support. Some were developed by credible sources. Others not so much.

But the fact is we are accumulating federal deficits at an unsustainable rate and, if the brakes aren't put on now, deficits and/or the National Debt will soon exceed the GDP which means the USA is bankrupt and at the mercy of the international community, most of which does not have our best interests at heart.

And the fact that 1 out of 3 Americans now depends on others to keep a roof over his/her head and food on the table etc. is an extremely dangerous situation fiscally. Since most of us have a hard enough time just supporting ourselves, that leaves precious few working Americans to support those not working. And as increasing taxes drive more and more good paying jobs out of the country, the base to support all that 'welfare' continues to shrink.

For too long now local, state, and the federal government have been working with budgets and policy with financial consequences pushed ahead for other administrations to deal with.

It is time for liberals to stop using demonization of conservatives as an excuse to avoid even looking at the real problem and time for conservatives to find the courage of their convictions and do something about it despite what liberals say or write about them.

 

[GHook93]

Where do you think the figure is at when you take into account welfare, section 8, food stamps and the Private Sector Tax Payor FUNDED HIGHWAY ROBBERY State and Federal worker Pension Plans? 51%?

Another Obama Record!

Government handouts now make up 35% of American wages and salaries.
CNBC reported:

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.

 

[cutter]

So now for every 2 people working in private enterprise they have to support 1 person getting a government check. When everyone works for the government WHO is going to pay the bill?