Government Handouts Top Tax Revenue

Liberals love the word sustainable. Yet Obamanomics is anything but:

U.S. households are now getting more in cash handouts from the government than they are paying in taxes for the first time since the Great Depression.

Households received $2.3 trillion in some kind of government support in 2010. That includes expanded unemployment benefits, as well as payments for Social Security, Medicare, Medicaid, and stimulus spending, among other things.

But that’s more than the $2.2 trillion households paid in taxes, an amount that has slumped largely due to the recession, according to an analysis by the Fiscal Times.

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Also, an estimated 59% of the 308.7 million Americans in this country get at least one federal benefit, according to the Census Bureau, based on 2009 data. An estimated 46.5 million get Social Security; 42.6 million get Medicare; 42.4 million get Medicaid; 36.1 million get food stamps; 12.4 million get housing subsidies; and 3.2 million get Veterans’ benefits.

And the handouts from the government have been growing. Government cash handouts account for a whopping 79% of household growth since 2007, even as household tax payments — for things like the income and payroll tax, among other taxes — have fallen by $312 billion.

Giving away more than they bring in is a simple trick. Our socialist overlords simply balance the books at the expense of a future that no longer exists by inflating the currency and borrowing from our enemies.

It has been said that a democracy can only last until people figure out that they can vote themselves largesse from the public treasury. At that point, given a sufficient lack of cultural character (and liberalism has rotted ours to the core, to judge by who we elected president), there will be a looting frenzy, followed by collapse, followed by brutal authoritarianism. Right now we’re toward the end of the looting and heading into the collapse.

Obamanomics illustrated.

On a tip from wingmann. Cross-posted at Moonbattery.

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