Read the following. A former official with the U. S. Treasury, Peter Fisher, once called the U. S. government “a gigantic insurance company.” This is because more than two-thirds of federal government spending goes toward programs set up to protect people from losses. The government provides a payment program for workers and in return promises to help pay for certain losses during some kinds of emergencies. In the United States, workers pay the federal government a certain percent of taxes, and the money is put into giant funds. The citizens can then turn to these programs for financial help when it is needed.

Explain how the federal government could be characterized as offering forms of “insurance.” Introduce the subject. Make two points. Conclude. Your response should be between 75 and 150 words.