Government Cash Handouts Now Top Tax Revenues

Gee I thought Tim and Ben and Owebee Wan said things are much better now and that the economy is on firmer footing. I GUESS NOT!

U.S. households are now getting more in cash handouts from the government than they are paying in taxes for the first time since the Great Depression.

Households received $2.3 trillion in some kind of government support in 2010. That includes expanded unemployment benefits, as well as payments for Social Security, Medicare, Medicaid, and stimulus spending, among other things.

But that’s more than the $2.2 trillion households paid in taxes, an amount that has slumped due to the recession, according to an analysis by the Fiscal Times.

And the handouts from the government have been growing. Government cash handouts account for a whopping 79% of household growth since 2007, even as household tax payments have fallen by $312 billion.

That is a tough feeding trough to take away from voters.

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