Wednesday, March 09, 2011

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

CNBC's Fast Money: Welfare State: Handouts Make Up One-Third of U.S. Wages.

Holy Cow!!

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 stronger foundation for economic growth than consumption based on social welfare benefits.”

That apparently doesn't include salary payments made to government workers either. Shocking.

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