The Corner

‘Stimulus Lifts Government Transfers’

A few weeks ago, USA Today had a story showing that one of every six dollars of Americans’ income is now coming in the form of a federal or state check or voucher — a historic high. Using personal income data for May, economist Don Marron shows that the trend continues:

Friday’s data on personal income for May confirmed that the trend is continuing.  Government transfers made up a record 18% of personal income in May

He also notes:

May’s increase was driven entirely by the recent stimulus act. The act provided for one-time payments of $250 to a range of Americans who are beneficiaries of various other programs, including Social Security, SSI, and veterans’ benefits. Those payments more than account for the increase in transfers from 16.9% of personal income in April to 18.0% in May.

Marron’s well-worth-reading post is here.

Veronique de Rugy — Veronique de Rugy is a senior research fellow at the Mercatus Center at George Mason University.

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