Phil Izzo of the WSJ published an article that shows half of American households are receiving benefits from the Government.
In the third year of Reagan’s presidency, the figure was 30%… and was 44% at the end of Bush’s presidency.
- 15% of househoulds receive food stamps
- 26% of households receiving Medicaid
- 2% of households receiving unemployment
- 16% of households receive Social Security
- 15% of household receive Medicare
Despite sounding the alarm, Izzo of the WSJ says we shouldn’t cut spending because it would sink the economy into a recession.
While it is true that cutting back on the entitlements like food stamps and medicaid would take money out of the economy, it would also help to keep our debt from ballooning. And then it would give Americans tax relief. And we would stop the economic nosedive that we are on now.