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35% of paychecks come from government handouts. If you figure how many people have run out of unemployment and haven't gone back to work, we are looking at about 50% of the population being either unemployed or on some sort of welfare. So the other 50% of us are paying all the bills for the entire Country, except for the huge deficit. I guess it would be 50% of us and China, are paying the bills. And obama and the democrats keep on spending.
Be sure to read the part below about the ratio to get things back in line. Either wages have to rise by $2.3 TRILLION dollars or welfare benefits need to decrease by $500 billion dollars. Umm, I don't know about you, but I doubt I get a raise at all this year. Those of us that are working are damn proud to get what we get. It would seem to be to our advantage for people to get back to work and reduce the welfare roll...
By: John Melloy - CNBC
Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.
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.”
The economist gives the country two stark choices. In order to get welfare back to its pre-recession ratio of 26 percent of pay, “either wages and salaries would have to increase $2.3 trillion, or 35 percent, to $8.8 trillion, or social welfare benefits would have to decline $500 billion, or 23 percent, to $1.7 trillion,” she said.
Last month, the Republican-led House of Representatives passed a $61 billion federal spending cut, but Senate Democratic leaders and the White House made it clear that had no chance of becoming law. Short-term resolutions passed have averted a government shutdown that could have occurred this month, as Vice President Biden leads negotiations with Republican leaders on some sort of long-term compromise.
Go read the rest at the link above...