Alan C. Posted March 11, 2014 Posted March 11, 2014 70% Of U.S. Spending Is Writing Checks To Individuals ...the government has become primarily a massive money-transfer machine, taking $2.6 trillion from some and handing it back out to others. These government transfers now account for 15% of GDP, another all-time high. In 1991, direct payments accounted for less than half the budget and 10% of GDP.What's more, the cost of these direct payments is exploding. Even after adjusting for inflation, they've shot up 29% under Obama.Where do these checks go? The biggest chunk, 38.6%, goes to pay health bills, either through Medicare, Medicaid or ObamaCare. A third goes out in the form of Social Security checks. Only 21% goes toward poverty programs — or "income security" as it's labeled in the budget — and a mere 5% ends up in the hands of veterans.. . ....a surprisingly large amount of federal money is handed out to wealthy Americans through Social Security, Medicare, farm subsidies, unemployment benefits, conservation programs, disaster payments and other programs.An IBD analysis found that the richest 1% of Americans, in fact, receive roughly $10 billion each year in federal checks.
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