Role of private sector in financing social welfare programs, 1972-92.

TL;DRAbstract

The private sector continues to play an increasingly important role in financing the Nation's aggregate social programs. This note provides estimates of private spending for social programs in the United States, from 1972-92, and complements the public social expenditures series. (1) Private outlays include a large share of health and medical care expenditures, as well as income-maintenance benefits, the latter in areas of employment-related pensions, group life insurance, and group sickness payments. The private sector is also an important source of financing for education and social services. Viewed as a share of gross domestic product (GDP) as shown in table 1, (all tables omitted) private sector support of social has gradually but substantially increased from 8.0 percent in 1972 to 13.7 percent in 1992. In calendar year 1992, total expenditures were $824.9 billion compared with $767.6 billion in the previous year (an increase of 7.5 percent). During relatively the same period, publ

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