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Thursday, April 12, 2012

The American Welfare State: How We Spend Nearly $1 Trillion a Year Fighting Poverty--And Fail

Bread and circuses for the masses has landed them on Uncle Sam's Plantation - dependent, pathetic and without the skills or motivation to produce. $15 trillion spent on the war on poverty is $15 trillion sucked our of the private economy that would have produced real jobs and real prosperity.
On January 8, 1964, President Lyndon B. Johnson delivered a State of the Union address to Congress in which he declared an "unconditional war on poverty in America." At the time, the poverty rate in America was around 19 percent and falling rapidly. This year, it is reported that the poverty rate is expected to be roughly 15.1 percent and climbing. Between then and now, the federal government spent roughly $12 trillion fighting poverty, and state and local governments added another $3 trillion. Yet the poverty rate never fell below 10.5 percent and is now at the highest level in nearly a decade. Clearly, we have been doing something wrong.
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Cato Institute 
Judy Morris, Blogger, THL Articles | Website