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Entitlements Soaring Again

The latest Commerce Department report on the economy through January 2024 shows income growth, but a big component of that was income transfers and other welfare programs from taxpayers. Just shy of $100 billion in January.  Robbing Peter to pay Paul is no way to grow an economy.

These injections of money into the economy are like shots of heroin that create a short-term high and then you suffer withdrawal symptoms.

The increase in government transfers was the biggest jump since July 2021:

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