And here it comes...."70% Of U.S. Spending Is Writing Checks To Individuals"
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.These budget battles are fighting over the scraps on the table and the squeeze will only get worse as Social Security, Medicare, and Obamacare swallow the budget whole.
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.