Sunday, February 14, 2016

70% Of Obama’s Budget Is Writing Checks To Individuals

Budget: What is the federal government’s most important function these days? Based on the Obama budget released today, it’s not defense, or roads, or education, or the environment. It’s cutting checks.
Buried deep in the president’s annual budget are a series of tables that few ever notice, but that are incredibly illuminating when it comes to understanding the size and scope of today’s federal government.
The table shows how much money the federal government spends on what budget officials describe as “payments to individuals.” Obama’s budget puts the figure for next year at a mind-boggling $2.9 trillion out of a $4.1 trillion budget.
In other words, more than 70% of federal spending amounts to taking money from one set of pockets, and depositing it in another.
And this figure is rising fast. Payments to individuals accounted for 60% of the budget when Obama took office, and less than 50% as recently as 1991.
Read the rest of the story HERE.

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