Economy: Government Dependence In The U.S. Reaches Absurd Levels
Etfdailynews.com
June 10th, 2013
Government dependence in the United States has reached a level never seen before. 50 years ago, the federal government handed out about 10 cents for every dollar that American workers earned. Now, the federal government hands out about 35 cents for every dollar that American workers earn. Yes, there are always poor people that cannot take care of themselves. We never want to see a single American going hungry or sleeping in the streets. But we are rapidly approaching the point where so many people are jumping on to the “safety net” that it is going to break. If you can believe it, more than 100 million Americans are enrolled in at least one welfare program, and more than 70 percent of all spending by the federal government goes to “dependence-creating programs”. If we really are “the greatest economy on earth”, then why is the number of people dependent on the government absolutely exploding? Of course the truth is that all of this just shows that we are in the midst of a long-term economic decline that is rapidly accelerating. Our economy simply does not produce enough jobs anymore, and there are a whole lot of people out there that are really suffering.
It is good to want to help all of the people that are hurting, but the reality is that we are spending far more money than we can afford to. We have been borrowing (stealing) more than 100 million dollars from our children and our grandchildren every single hour of every single day to pay for all of this. Our national debt is rapidly approaching 17 trillion dollars, and if future generations get the chance, they will look back and curse us for handing such a mountain of debt down to them.
It is absolutely criminal what we are doing to future generations. But we cannot help ourselves. We are like the 400 pound union executive in New York that takes long naps at his desk every afternoon. We know that what we are doing is not right, but we cannot help ourselves. For much more on the horror of our national debt, please see my previous article entitled “55 Facts About The Debt And U.S. Government Finances That Every American Voter Should Know“.
The Rest…HERE
