Industrial Insight

Almost 1/5 of our income comes in payments from federal government… | April 26, 2011

http://www.usatoday.com/news/usaedition/2011-04-26-transferpaymentsnew_ST_U.htm

Reliance on Uncle Sam hits a record

By Dennis Cauchon, USA TODAY

A record 18.3% of the nation’s total personal income was a payment from the government for Social Security, Medicare, food stamps, unemployment benefits and other programs in 2010. Wages accounted for the lowest share of income — 51.0% — since the government began keeping track in 1929.

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I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.

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