Sunday, July 31, 2011

This cannot be emphasized enough---New charts showing the weight of Entitlement programs have on the Federal Budget..

Two helpful charts that show the rise of direct public transfer payments over time. The first shows, in percentage terms, cash transfers to individuals last year.  The two biggies, Social Security and Medicare, consume 76% of those payments. The rest are crumbs comparably. The second chart shows the rise of payments to individuals relative to defense spending and interest paid on national debt. The scarry part of this graph is it is projected that paying interest on the debt will surpass spending on Defense.  Yikes!! HT: Carpe Diem
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