“[F]or the first time since the Great Depression, Americans took more aid from the government than they paid in taxes” so sayeth the Washington Times:
The so-called “Great Recession” has left Americans depending on the government dole like never before.
Without record levels of welfare, unemployment and other government benefits as well as tax cuts last year, the income of U.S. households would have plunged by an astonishing $723 billion — more than four times the record $167 billion drop reported last month by the Commerce Department.
“Governmental support was critical in keeping the economy, particularly consumer spending, from completely collapsing during the crisis,” said Harm Bandholz, an economist at Unicredit Markets. He said he is concerned that so much of the economic rebound is a result of government spending rather than a revival of private income and jobs. That situation is unsustainable, he said, because the government has had to borrow massively to prop up the economy and cannot continue that binge for long.
However much energy the Obama Administration puts in to its arguments favoring expanded deficits and raising the ceiling on our National Debt, this President and his “Hope and Change” nonsense is driving us into the ground. I don’t need to be an economist to comprehend the statement “That situation is unsustainable.” While the Feds spend money they aren’t recovering in tax revenues we are heading down a path from which we can not recover in our lifetimes. Must learn Chinese…MUST learn Chinese.
We have seen enough bloat and waste and State & Federal budget collapses over the past 20 years to recognize the numbers of generations it takes to reinvigorate the Fed coffers…allowing them to keep finding new and ever-cooler ways to spend money they don’t have on things we don’t need (or can live without for a while) is going to ruin us.
No WONDER Bunning is quickly becoming an urban legend in the minds of the Left-he’s mucking up a perfectly good plan to establish the largest monopoly in American history-the Federal Government. Too bad our Political Heroes are too busy buying votes to recognize just how many they’re going to LOSE when the grown ups catch on.