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Tuesday, December 11, 2012

Our Societal Ticks Are Fat And Happy

Want to see what we spend on that 47 % that Romney spoke of.  I know most of it goes to those who run said programs but bottom line does it really matter who gets it. We know where it comes from. And obama wants to increase spending on these programs .....question .....HOW. Are we going to borrow even more money or is this where that evil rich tax increase going to go.  Remember these numbers the next time the liberals tell you we don't spend enough on our poor. He is keeping his base happy ... I have to give him that.

Total Welfare Spending Equates To $168 Per Day For Every Household In Poverty
Based on data from the Congressional Research Service, cumulative spending on means-tested federal welfare programs, if converted into cash, would equal $167.65 per day per household living below the poverty level. By comparison, the median household income in 2011 of $50,054 equals $137.13 per day. Additionally, spending on federal welfare benefits, if converted into cash payments, equals enough to provide $30.60 per hour, 40 hours per week, to each household living below poverty. The median household hourly wage is $25.03. After accounting for federal taxes, the median hourly wage drops to between $21.50 and $23.45, depending on a household’s deductions and filing status. State and local taxes further reduce the median household’s hourly earnings. By contrast, welfare benefits are not taxed.
The universe of means-tested welfare spending refers to programs that provide low-income assistance in the form of direct or indirect financial support—such as food stamps, free housing, child care, etc.—and which the recipient does not pay into (in contrast to Medicare or Social Security). For fiscal year 2011, CRS identified roughly 80 overlapping federal means-tested welfare programs that together represented the single largest budget item in 2011—more than the nation spends on Social Security, Medicare, or national defense. The total amount spent on these federal programs, when taken together with approximately $280 billion in state contributions, amounted to roughly $1 trillion. Nearly 95 percent of these costs come from four categories of spending: medical assistance, cash assistance, food assistance, and social / housing assistance. Under the President’s FY13 budget proposal, means-tested spending would increase an additional 30 percent over the next four years.

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