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

[8537]

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.

In order to calculate actual GDP, revenues etc... you need to remove price increases related to inflation. Failing to do so gives a false comparison. For example, using Nominal GDP you might learn that 1981 was a banner year for the economy, growing by - but when you subtract out the strictly monetary effects you learn we were actually in a recession.

Real dollars are inflation adjusted.
Nominal dollars are unadjusted.

To give an extreme example, if you used nominal dollars you might find that Ben Franklin, by all accounts a very wealthy man, lived on less than $1,000 per month.

 

[Jarhead]

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.

In order to calculate actual GDP, revenues etc... you need to remove price increases related to inflation. Failing to do so gives a false comparison. For example, using Nominal GDP you might learn that 1981 was a banner year for the economy, growing by - but when you subtract out the strictly monetary effects you learn we were actually in a recession.

Real dollars are inflation adjusted.
Nominal dollars are unadjusted.

To give an extreme example, if you used nominal dollars you might find that Ben Franklin, by all accounts a very wealthy man, lived on less than $1,000 per month.

Of course I understand that concept...

I just didnt understand where you were going with it

No I do.

Thanks

 

[Foxfyre]

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?

The government pays the bill which means, if nobody is working to grow the economy anymore, pretty much everybody but a favored few will be living well below what is now the poverty line. If history is a competent instructor, however, those favored few will become quite wealthy. Chances are that elite group won't include any of us.

Not only are the Democrats resisting cutting the budget by the miniscule amount of $69 billion, Harry Reid yesterday had the gall to stand up and say that if the Republicans do that, they won't be able to have the Cowboy Poet Festival in Nevada this summer.

Oh wow. Is that a grim thought or what?

Does anybody still want to believe these people are in touch with any kind of realty other than their own personal fame, fortune, power, prestige, or personal wealth?

 

[signelect]

Another Obama first, every time he or one of his minions say moving forward I get scared. I am on SS and medicare. I paid for it and I not only want it but need it. Have you noticed that no one in congress has the nerve to suggest that they take a pay cut just to show the country that we are in this together. Hell no they don't, everyone should cut back but them. Congress is proving beyond any doubt that we the voters are as dumb and they think we are.

 

[Stephanie]

Well the Obama and his Comrades in Arms are following the Cloward and Piven plan to a T.

You people who voted for him must feel REAL PROUD.

Overwhelm the system.

snopes.com: Obama's Agenda: Overwhelm the System

 

[LordBrownTrout]

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?

Nobody. Socialist/nirvana/euphoria will have been achieved. Everyone will have their own unicorn and magical pixie dust.

 

[Zoom-boing]

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?

Nobody. Socialist/nirvana/euphoria will have been achieved. Everyone will have their own unicorn and magical pixie dust.

You forgot that uncle is going to send us our very own copy of Kumbaya all typed up in pretty colors too.

 

[Trajan]

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.

First of all, where do they get the "the economy has recovered" crap?

so, over a third eh?

and 61 Billion? hahaha, we cannot cut that and thats only what, the budget a year is 3,700 times bigger than that? ...get the *--k outta here.

“The U.S. economy has become alarmingly dependent on government stimulus,”

thats a riot, I swear to god, like no kidding eh?