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Thursday, June 04, 2009

Benefit Spending Soars To New High





The recession is driving the safety net of government benefits to a historic high, as one of every six dollars of Americans' income is now coming in the form of a federal or state check or voucher.
Benefits, such as Social Security, food stamps, unemployment insurance and health care, accounted for 16.2% of personal income in the first quarter of 2009, the Bureau of Economic Analysis reports. That's the highest percentage since the government began compiling records in 1929.


In all, government spending on benefits will top $2 trillion in 2009 — an average of $17,000 provided to each U.S. household, federal data show. Benefits rose at a 19% annual rate in the first quarter compared to the last three months of 2008.


The recession caused about half of the increase, according to the report. Unemployment insurance nearly tripled in the past year. The other half is the result of policies enacted during President George W. Bush's first term.


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4 comments:

Anonymous said...

i would like to know the average income of all those that receive this money, i know i my household has not received any of my 17k

Anonymous said...

I would be happy if someone would just help me cut my grass once in awhile.

Anonymous said...

Thanks George.

Chimera said...

This report does not suprise me a bit.Wheres all my goodies at?Oops-I forgot,I am married to the father of my one child and we both work-nobody is giving us sh*t.We have to keep working so others get their checks.