SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Brumar8910/30/2012 9:05:43 PM
   of 1577031
 
Report: Enough Spent on Welfare Programs in 2011 to Write Every Poor Household a $59,523 Check

By Matt Cover
October 30, 2012

(CNSNews.com) The federal government spent enough money on federal means-tested welfare programs to have sent each impoverished household a check for nearly $60,000, according to figures from the Census Bureau and the Congressional Research Service (CRS).

According to a report from the CRS produced for Sen. Jeff Sessions (R-Ala.), $1 trillion was spent on federal welfare programs during fiscal year 2011 – with $746 billion in federal funds and $254 in state matching funds.

The U.S. Census Bureau reported that there were approximately 16.8 million households living below the federal poverty level of $23,000 per year for a family of four in 2011. ( See: 2011 Households Below Poverty 2011.pdf )

If each of the estimated 16.8 million households with income below the poverty level were to have received an equal share of the total welfare spending for fiscal year 2011, they each would have received $59,523.

If only the 2011 federal share of welfare spending (no state matching funds) were spent as direct cash payments, each household would have received $44,404, which is nearly double the federal poverty level for a family of four.

This federal welfare spending does not include programs such as Medicare and Social Security, because they are not means-tested programs. Means-tested programs are those that only pay out benefits to people whose incomes fall below a certain threshold, such as food stamps, traditional cash welfare, and Medicaid.

In other words, if the government were to discontinue its myriad federal welfare programs, such as housing vouchers, food stamps, and Medicaid, and instead just wrote every poor household a check, it would nearly quadruple their income: increasing it from at most $23,000 per year to nearly $83,000 per year.

http://cnsnews.com/news/article/report-enough-spent-welfare-programs-2011-write-every-poor-household-59523-check
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext