Want to read Slashdot from your mobile device? Point it at m.slashdot.org and keep reading!

 



Forgot your password?
typodupeerror
Check out the new SourceForge HTML5 internet speed test! No Flash necessary and runs on all devices. ×

Submission + - 70% Of U.S. Government Spending Is Writing Checks To Individuals (investors.com)

An anonymous reader writes: Investor's Business Daily reports, "Buried deep in a section of President Obama's budget, released this week, is an eye-opening fact: This year, 70% of all the money the federal government spends will be in the form of direct payments to individuals, an all-time high. In effect, the government has become primarily a massive money-transfer machine, taking $2.6 trillion from some and handing it back out to others. These government transfers now account for 15% of GDP, another all-time high. In 1991, direct payments accounted for less than half the budget and 10% of GDP. What's more, the cost of these direct payments is exploding. Even after adjusting for inflation, they've shot up 29% under Obama."
This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

70% Of U.S. Government Spending Is Writing Checks To Individuals

Comments Filter:

Recent investments will yield a slight profit.

Working...