Americans Depend More on Government Than at Any Other Time in Nation’s History
Americans depend more on federal aid than ever
(By Dennis Cauchon, USA TODAY) - 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.
(By Dennis Cauchon, USA TODAY) - 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.
posted by BP News Bureau | 9:15 PM
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