I’m afraid that I’m away again for a few days – away from reasonable internet, specifically. So I have a few scheduled posts coming up of video infographics that I’ve found especially awesome.

I’m starting with this magnificent¬†video clip on welfare and entitlement. Just magnificent*.
*my email subscribers probably won’t be able to watch this in their mailbox – I’ve linked to it above, or you can watch it directly on the RollingAlpha¬†website.

The basic idea is that the New Deal from the Great Depression era intended two types of fiscal stimulation:

  • Welfare – being direct fiscal spend on the poor; and
  • Entitlements – being special tax deductions (like those on mortgage interest repayments)

Because welfare spending is a clear number on a fiscal budget, people have something that they can clearly rail against.

Entitlements, on the other hand, are abstract: they represent government revenue that will not be collected – and because you don’t record what you don’t receive, it’s invisible.

And if that doesn’t interest you, then the amazing artwork should.