Tuesday, May 25, 2010

Private Pay Shrinks to Historic Lows

The ability of taxpayers to fund government is shrinking.

The idiots in Congress believe the "solution" is to grow the size of government. This will not end well.

Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.
At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010.

Those records reflect a long-term trend accelerated by the recession and the federal stimulus program to counteract the downturn. The result is a major shift in the source of personal income from private wages to government programs.