The fact is that every year 27 million Americans are lifted from poverty by our system of public benefits. More than 80 million Americans receive health insurance through a government program -- Medicaid, Medicare or the State Children's Health Insurance Program, known as SCHIP. Without these programs, tens of millions would be unable to afford access to medical care. As the center notes, government programs reduce both the extent and the depth of poverty.
Does all this cost a fortune? Not by any fair reckoning. Federal spending on Medicaid and SCHIP represents 1.5 percent of gross domestic product. Federal financing for the rest of the low-income programs consumes just 2.3 percent of GDP. For a sense of comparison, consider that defense spending consumes 4 percent of GDP and interest on the national debt gobbles up 1.5 percent. President Bush's tax cuts -- which go in large part to the wealthiest Americans -- will consume roughly 2 percent of GDP.
So true. Read it.
(Edit: Typo.)
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