Bloomberg: “A record 49% of Americans live in a household where someone receives at least one type of government benefit, according to the U.S. Census Bureau. And 63% of all federal spending this year will consist of checks written to individuals for which the government receives currently no services, the White House budget office estimates. That’s up from 46% in 1975 and 18% in 1940.”
“Those figures will climb in coming years. The 75 million baby boomers have only begun their long march into retirement, while President Obama’s health-care overhaul will extend insurance coverage to more than 30 million additional people.”