A staggering one of every six dollars of Americans’ income is now coming in the form of a federal or state check or voucher. (Source.)
One in nine Americans are now on food stamps, reports the USDA. (Source.)
Benefits, such as Social Security, food stamps, unemployment insurance and health care, together accounted for 16.2% of personal income in the first quarter of 2009, the Bureau of Economic Analysis reports. That’s the highest percentage since the government began compiling records in 1929. (Source.)
In all, government spending on benefits will top $2 trillion in 2009 — an average of $17,000 provided to each U.S. household, federal data show. Benefits rose at a 19% annual rate in the first quarter compared to the last three months of 2008. (Source.)
Can you say, “unsustainable”?
How sustainable is this: the San Francisco Chronicle is reporting State’s unemployment fund short by $17 billion (on top of the State’s $24 billion deficit):
California is paying out so much for jobless benefits and collecting so little in payroll taxes that its unemployment insurance fund could be $17.8 billion in debt by the end of 2010, according to a new report from the state Employment Development Department.