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  • Government Transfer Payments Growing at an Unsustainable Rate 1 comment
    Jun 5, 2009 8:05 AM

    Government Transfer Payments Growing at an Unsustainable Rate

    by: Calafia Beach Pundit June 05, 2009 


    [click to enlarge charts]
     
    These charts come from a very nice, relatively new blog by Donald Marron. The first chart shows government transfer payments as a share of personal income, and the second chart breaks out the major components of the transfer payments. "Transfer payments from the government now make up more than one-sixth of American incomes, the highest ever." And he adds, "Spending on the major entitlement programs — Social Security, Medicare, and Medicaid — is on an unsustainable course."

    So many things today are growing at unsustainable rates: government spending, the federal deficit, government spending as a share of GDP, social security, medicare, etc. It's obvious that these trends can't continue. And if a trend can't continue, it won't. At some point the public is going to be fed up with the suffocating size of government, and they are going to shout from the rooftops to STOP. I only wish I knew when this happy day would come.

     

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    Author’s reply » Great article
    5 Jun 2009, 08:06 AM Reply Like
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