Tuesday, September 25, 2012

Welfare spending now 25% of budget


I didn't know this. I was still thinking of the budget in 2008 terms, from the Death and Taxes poster.

The Obama years have seen unprecedented growth in spending on what used to be known as the federal "anti-poverty" or "welfare" programs: means-tested initiatives to provide food, health insurance, housing benefits, and income support to the poor. These programs certainly grew during the Bush administration, with spending increasing by a total of about $100 billion over that eight-year period ($12.5 billion per year in 2010 dollars). But that spending increased another $150 billion in just the first two years of the Obama administration.  

The scale of these increases is staggering. In three years, from 2008 through 2010, total annual spending on welfare programs (in 2010 dollars) increased from $475 billion to $666 billion — a 40% increase after accounting for inflation. At a combined annual cost of two-thirds of a trillion dollars, these programs are now on the same scale as the defense budget ($693 billion), Social Security ($700 billion), and Medicare ($551 billion).

Hahahahaaaa!!! That is ME laughing at YOU, cruel world.
    -Jordan Rixon

I could not love thee, dear, so much,
Loved I not Honour more.

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