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Health Care and Social Services Expenditures: Census Bureau State and Local Finance Data

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Over the past near 40 years, the share of the personal income of both Americans and New Yorkers spent by state and local governments on cash assistance for the needy has plunged, a long term look at data from the Governments Division of the U.S. Census Bureau shows, while the share spent on payments to private sector medical care vendors, generally under the Medicaid program, has soared. The data, in the attached spreadsheet, shows that public health and hospital spending has fallen as a share of personal income in New York while rising in the U.S. as a whole, while spending on social services has increased in both areas, though by much less than Medicaid-funded health care vendor payments.

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Who Is The Missing Man?

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Friday’s Wall Street Journal had a very good story about the State government failing to go after Pedro Espada in 1995.

But for some reason, the story did not list the name of the man who was Governor at the time.

I wonder why.

Hmm, could it be because the Governor wasn’t named Cuomo, Spitzer or Paterson?

http://online.wsj.com/article/SB10001424052748703395204576023843352497746.html

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Income Inequality and Debt: Just A Coincidence?

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I just glanced over this report, and was struck by the chart on page 1, which shows the share of U.S. income taken by the top 1.0% of earners from 1914 to 2006. It shows the share of U.S. income going to the wealthy soared in the 1920s, just before the Great Depression, and in recent years, just before the Great Recession. This is nothing I didn't know. But what struck me was the almost exact match to the total credit market debt to GDP chart, found on this website. Total U.S. debt also soared in the 1920s, fell in the Great Depression, remained low for a while, then soared again in the 1980s and 2000s. Party on!

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