Federal Welfare Spending to Skyrocket 80 Percent in Next Decade

Federal welfare spending will skyrocket 80 percent over the next decade, according to new analysis by the minority side of the Senate Budget Committee. Here’s a chart, provided by the committee, detailing the growth in spending:Welfare Spending

 

 

 

 

 

“This chart displays projected federal spending on federal welfare programs over the next ten years, based on data from the Congressional Research Service and Congressional Budget Office,” the Republican side of the Senate Budget Committee explains. “These figures do not count state contributions to federal welfare programs (primarily on low-income health assistance) which brought total welfare spending in FY2011 to more than $1 trillion – dwarfing any other budget item including Medicare and Social Security, and totaling enough to mail every household in poverty a check for 60k each year.” More…

 

 



Categories: Financial News

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