When it comes to the myth of the “jobless recovery,” the Obama administration has proven a reliable source of propaganda.
Since the end of the Great Recession in mid-2009, the U.S. government has spent over $6 trillion on the “recovery” – or $4,836 per American, according to a Washington Post/ABC News poll released in June.
While the economy is still struggling to recover from the Great Depression and the Great Anxiety Disorder, it has come a long way from the depths of the financial crisis of 2008.
But it is important to remember that this recovery is merely the result of a government that has been spending billions of dollars every year on a failed and unsustainable economic model.
The U.N. Economic Commission on Human Development has estimated that the U of S has spent $17.6 trillion in the last decade, while the US. economy has only produced a fraction of that amount.
While this has resulted in a huge boost in the GDP per capita, the actual impact of the government spending is very small compared to the cost of unemployment benefits, food stamps, housing subsidies, child care subsidies, health care assistance, etc. According to the Center on Budget and Policy Priorities, in the early 2000s, unemployment insurance and food stamps provided an average of $3,400 in benefits to a household with a single person and $2,000 to a family of three.
In 2015, those benefits dropped to $1,400 and $1.50 per person, respectively.
Now, we have seen an even greater decline in these benefits in recent years.
Since January 1, 2015, the federal government has stopped paying benefits to people who have lost their jobs or have been laid off, and has not yet started paying food stamps and housing subsidies.
That’s why it is difficult to figure out exactly how much the government is spending on the unemployed.
However, a new report by the Economic Policy Institute (EPI), which provides data on federal spending, shows that the government has paid over $2 trillion per year since 2009 to people whose jobs have been eliminated or lost.
According to EPI, the total cost of this “recovering” is more than $8.8 trillion per month.
“Recovering,” of course, does not necessarily mean that the economy will bounce back to pre-recession levels.
Instead, it means that the amount of money that the federal, state, and local governments spend on unemployment insurance, food stamp, housing subsidy, etc., has increased by over $100 billion per month since 2009, according a recent Congressional Budget Office (CBO) report.
This increase in spending by the government on unemployment benefits has also led to an increase in the amount that Americans are paying in income taxes.
Specifically, the amount the federal and state governments have spent on food stamps in 2016 alone was $6.2 trillion.
Furthermore, EPI found that the average increase in federal taxes over the last 20 years has been $5,000 per American.
So how does this compare to the amount spent on unemployment assistance in the U,S.?
According the Center for Economic and Policy Research (CEPR), the average federal benefit per person in the United States was $3.70 in 2012, while it was $10.20 in 2017.
EPR found that a $3 billion increase in government welfare spending since 2009 has been responsible for a significant increase in income tax revenue.
To put this in perspective, a single family of four paying $4 million in income for unemployment benefits and food assistance each year will pay $1 million in federal income tax.
Additionally, the CBO reported that since the Great War, the size of the federal budget has increased nearly three-fold, from $1 trillion in 1919 to $3 trillion in 2015.
For comparison, the average family of five in 2016 paid $9,800 in income and Social Security taxes, which is almost $1 per year more than the average income of the U.,S.
households of the late 20th century.
What can we learn from the history of the economic crisis?
The Great Recession was not caused by the U in any way.
It was caused by two things: the Federal Reserve’s reckless behavior that led to the financial crash and the U’s refusal to spend any more money on its failing economy.
If the U had responded to the Great Panic of 1873 and the Panic of 1893 by returning to the gold standard, and by returning interest on its debt to a reasonable level, the economy would have been saved.
But that would have involved a massive increase in debt.
Instead, the government responded by issuing debt and interest-bearing assets, such as Treasuries, government bonds, and mortgage-backed