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Investors.com...
The
United
States Of Dependency?
Economy:
New reports suggest America is not only hurting economically under
President
Obama, but also on a dangerous road to fiscal decline and growing
dependence on
government. This is the real legacy of Obamanomics.
Before you
shrug this off as an exaggeration or chalk it up to scare-mongering,
check out
the reports that have emerged in recent days suggesting just how
dependent
Americans have become on government largesse.
Keep in mind
the money to pay for it doesn’t come from the government; it comes from
all of
us, but especially the top 20% of incomes that pay 94% of the taxes and
create
virtually all of American jobs.
Here are
just a few recent reports about the alarming growth in dependency:
• In the
second quarter of 2011, 107 million Americans were receiving some kind
of
government welfare — not including Medicare or Social Security —
according to a
new study from the Senate Budget Committee. That’s up from 97 million
just over
two years ago.
• In the
last three months, more people have applied for Social Security
disability
payments than found jobs in the private sector, federal data show.
• New
Census data show 43% of all immigrants remain on welfare 20 years after
arriving
in the U.S., a stunning statistic suggesting the old model of
immigration being
a path to opportunity may have broken down in the Age of Obama.
• A new
economic study says almost half of Americans die with less than $10,000
in
assets — a sad comment on how government has displaced personal
initiative and
private savings in preparing for retirement.
• IRS data
show that almost half of all Americans — 49.5% of us — pay no income
taxes at
all...
This is a
must... read the rest of the article at Investors.com
Graphic: Ventura
County Tea Party
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