Romney and Ryan are nuts if this latest kerfuffle stops them from talking about this (numbers courtesy of AEI’s Nick Eberstadt):
1. In 1960, U.S. government transfers to individuals totaled about $24 billion in current dollars, according to the Bureau of Economic Analysis. By 2010 that total was almost 100 times as large.
2. Even after adjusting for inflation and population growth, entitlement transfers to individuals have grown 727% over the past half-century, rising at an average rate of about 4% a year.
3. In 2010 alone, government at all levels oversaw a transfer of over $2.2 trillion in money, goods and services. The burden of these entitlements came to slightly more than $7,200 for every person in America. Scaled against a notional family of four, the average entitlements burden for that year alone approached $29,000
4. In 1960, entitlement payments accounted for well under a third of the federal government’s total outlays—about the same fraction as in 1940, when the Great Depression was still shaping American life. But over subsequent decades, entitlements as a percentage of total federal spending soared. By 2010 they accounted for just about two-thirds of all federal spending, with all other responsibilities of the federal government making up barely one-third.
5. Poverty- or income-related entitlements—transfers of money, goods or services, including health-care services—accounted for over $650 billion in government outlays in 2010. Between 1960 and 2010, inflation-adjusted transfers for these objectives increased by over 30-fold, or by over 7% a year.
Read more: http://www.aei-ideas.org/2012/09/romney-needs-to-keep-talking-about-our-fiscally-and-morally-disastrous-entitlement-society/
1. In 1960, U.S. government transfers to individuals totaled about $24 billion in current dollars, according to the Bureau of Economic Analysis. By 2010 that total was almost 100 times as large.
2. Even after adjusting for inflation and population growth, entitlement transfers to individuals have grown 727% over the past half-century, rising at an average rate of about 4% a year.
3. In 2010 alone, government at all levels oversaw a transfer of over $2.2 trillion in money, goods and services. The burden of these entitlements came to slightly more than $7,200 for every person in America. Scaled against a notional family of four, the average entitlements burden for that year alone approached $29,000
4. In 1960, entitlement payments accounted for well under a third of the federal government’s total outlays—about the same fraction as in 1940, when the Great Depression was still shaping American life. But over subsequent decades, entitlements as a percentage of total federal spending soared. By 2010 they accounted for just about two-thirds of all federal spending, with all other responsibilities of the federal government making up barely one-third.
5. Poverty- or income-related entitlements—transfers of money, goods or services, including health-care services—accounted for over $650 billion in government outlays in 2010. Between 1960 and 2010, inflation-adjusted transfers for these objectives increased by over 30-fold, or by over 7% a year.
Read more: http://www.aei-ideas.org/2012/09/romney-needs-to-keep-talking-about-our-fiscally-and-morally-disastrous-entitlement-society/
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