Thursday, October 14, 2010
Where will country be 50 years from now?
Government support for dependent persons has grown from $7,293 per person in 1962, to $31,950 per person today (adjusted for inflation).
132.5 million Americans either pay no income tax or live in a household that pays no income tax. This is up from just 34.8 million in 1984.
Social Security, Medicare and Medicaid eat up 41% of all non-interest federal program spending. Unchecked, this will grow to 62% over the next decade.