Reliance on Uncle Sam hits a record

[dkf]

Americans depended more on government assistance in 2010 than at any other time in the nation's history, a USA TODAY analysis of federal data finds. The trend shows few signs of easing, even though the economic recovery is nearly 2 years old.

A record 18.3% of the nation's total personal income was a payment from the government for Social Security, Medicare, food stamps, unemployment benefits and other programs in 2010. Wages accounted for the lowest share of income — 51.0% — since the government began keeping track in 1929.

The income data show how fragile and government-dependent the recovery is after a recession that officially ended in June 2009.

The wage decline has continued this year. Wages slipped to another historic low of 50.5% of personal income in February. Another government effort — the Social Security payroll tax cut — has lifted income in 2011. The temporary tax cut puts more money in workers' pockets and counts as an income boost, even when wages stay the same.

http://www.usatoday.com/news/usaedition/2011-04-26-transferpaymentsnew_ST_U.htm

[Harmony Blue]

1. Disturbing trend

Someone also posted a link, in another thread, that shows there is an increasing trend of employed workers on SNAP too.

Very scary.

[valerief]

2. Corporate assistance on the government was pretty high, too, I'm sure. nt

[onehandle]

3. 'Easing' = benefits running out or being cut. nt

[Cool Logic]

4. My, how things change over the course of time...

1961 - And so, my fellow Americans: ask not what your country can do for you - ask what you can do for your country. ~ John F. Kennedy

2011 - Gimmie, gimmie, gimmie and get out of my way!

[eShirl]

5. Good thing the rich were able to create all those jobs with their tax cuts.

[dkf]

6. The working class kept their incomes stable with the payroll tax cut.

I'm sure that helped some.

[eShirl]

7. And the "Job Creators" did their part by not increasing the # of people paying payroll taxes.