Wednesday, March 09, 2011

Welfare Handouts Make Up One-Third of U.S. Wages

“In the end they will lay their freedom at our feet and say to us, 'Make us your slaves, but feed us.” - Fyodor Dostoyevsky

From CNBC:
"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 (up from) 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.”
Obviously. But the nanny state derives power from the fealty of dependent voters.

Doug Ross has some very informative charts which illustrate the Democrats' disastrous "War on Poverty."
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