Resistance Begins at Ohm!

Thursday, June 4, 2009

$1 in $6 of American's income is coming from Federal or State coffers

Say what!???!!?!
Yup. Take a $5 bill out of your wallet. Now, take $1 and give it to someone else.

From USA Today

By Dennis Cauchon

Benefits, such as Social Security, food stamps, unemployment insurance and health care, accounted for 16.2% of personal income in the first quarter of 2009, the Bureau of Economic Analysis reports. That's the highest percentage since the government began compiling records in 1929.

In all, government spending on benefits will top $2 trillion in 2009 — an average of $17,000 provided to each U.S. household, federal data show. Benefits rose at a 19% annual rate in the first quarter compared to the last three months of 2008.

Oh sure, and with interest rates up by 50%, energy costs soon doubling, and inflation eating something like 10% of our spending power each year - we can afford it. Noooo problemo.

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