Stat of the Week – 27%
That is the total percentage of all household income across the country that is now reported to be sourced from government spending. This dramatic increase is largely attributed to the government’s response to the coronavirus pandemic, which saw total spending on Personal Current Transfer payments, such as unemployment benefits and government stimulus checks, skyrocket in January to $5.78 trillion. That figure reflects a $2 trillion increase over pre-COVID levels.
Perhaps most alarmingly, these statistics do not include President Biden’s latest $1.9 trillion COVID relief legislation, which would almost certainly drive up Americans’ quantifiable dependency on the federal government even higher.