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

It was only one-fifth just 10 years ago.

Published: Tuesday, 8 Mar 2011 | 3:59 PM ET
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By: John Melloy

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Government payouts--including Social Security, Medicare and unemployment insurance--make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn't taken before the majority of Baby Boomers enter retirement.

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 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


Added: Mar-8-2011 Occurred On: Mar-8-2011
By: vicsemprini
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Tags: Welfare state, deficit, national debt, wealth redistribution, liberal policies
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