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Private pay shrinks to historic lows

Posted By admin On May 25, 2010 @ 9:13 am In Old Infowars Posts Style,U.S. News | Comments Disabled

Dennis Cauchon
USA Today
May 25, 2010

  • A d v e r t i s e m e n t
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Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.

At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010.

Those records reflect a long-term trend accelerated by the recession and the federal stimulus program to counteract the downturn. The result is a major shift in the source of personal income from private wages to government programs.

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