Government Payments Become Fastest Growing Source of Income: Report

Of all government assistance payments in 2022, 56 percent went to the elderly, mostly for Medicare, the report says.

People advocate for Medicare for all legislation at a health care rally at the U.S. Capitol on Sept. 13, 2017. Alex Wong/Getty Images

Payments from the government have become the fastest-growing source of income for Americans, according to a new study.

A report by the Economic Innovation Group (EIG), a public policy research organization, titled “The Great Transfer-mation” states that Americans have become substantially more dependent on government support, with the share of national income coming from transfer payments more than doubling over the past 50 years.