Posted on 03/04/2011 7:35:01 AM PST by Slyscribe
Nearly two years into recovery, American households are still leaning heavily on the crutch of government — more specifically, government borrowing.
That should be obvious based on this year's projected $1.5 trillion federal deficit, with tax revenues at their lowest level as a share of the economy since 1950 and outlays near their highest point since World War II.
(Excerpt) Read more at investors.com ...
It certainly will be painful.
The good news is the biggest impact will be on Baraq’s re-election chances.
Nov 2012 will be a perfect storm of surging prices and unemployment.
This is why the likely result of our current situation is collapse rather than turning the corner and getting back on track. Sorry to say it but our economy is artificially propped up by government spending that is unsustainable. And the American public still has not bought into the necessary cuts to entitlements—Social Security and Medicare—that are absolutely necessary to get back on track.
“American households are still leaning heavily on the crutch of government “
I’m sorry...I am depending on them how?
I don’t get higher social benefits [nor do i want them, lower taxes, yes so I can spend MY money MY way and whatever the 3rd thing was I don’t participate.
Bottom line is the VAST majority of tax PAYERS get dang little from ANY branch of gummint.....
That’s quite possible.
But I strongly feel Dems will lose the senate and any lib POTUS will be gridlocked.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.