Thursday, March 23, 2023

Underserved actually means overserved by government

What Democrats and their bureaucracy call "underserved" means under the heavy thumb of government programs. They are so "overserved" by the various 120+ wealth transfer programs, they can't afford to work, buy or rent in a better neighborhood, or take a promotion at work in fear of losing their "benefits." That word "underserved" may be one of the most deceptive in government-speak.

Here are the "underserved" amounts: Federal spending programs that are "designed to transfer income ... to individuals or families" are set to hit a record $3,223,943,000,000 in fiscal 2020, according to projections published by the Office of Management and Budget.

These so-called "payments for individuals" (as the OMB calls them) are projected to account for 67.9% of all federal spending  [fiscal year 2020] and consume 14.4% of the nation's gross domestic product.

"More government benefits result in less private wealth, especially for the non‐​rich. It is not just Social Security and Medicare that displaces private saving, but also unemployment insurance, welfare, and other social spending. Some social programs have “asset tests” that deliberately discourage saving.

Total federal and state social spending as a share of gross domestic product soared from 6.8 percent in 1970 to 14.3 percent in 2018. That increase in handouts occurred over the same period that wealth inequality appears to have increased. Generations of Americans have grown up assuming that the government will take care of them when they are sick, unemployed, and retired, so they put too little money aside for future expenses." How the Government Creates Wealth Inequality | Cato Institute

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