Re: Savings Rate Goes Negative
The social safety nets are gone? Take a look at page 81 in the instructions for the 2005 Form 1040. Out of 2.3 trillion dollars in government outlays (federal, we're not even talking state and local), 36% was spent on social security, medicare, and other government retirement programs. Another 21% was spent on social programs. And another 10% was spent on physical, human and community development. If my math is correct, that's 67% of all federal expenditures on social programs.
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