Here's a great analysis of how government traps people on welfare and keeps them in poverty and dependent.
Obama explains how to use welfare recipients as majority coalition to win elections. If he can trap over half of voters in poverty, he believes Democrats will win every election.
Seventy percent of the US government goes to dependence programs.
"Government dependence is driving budget deficits and federal debt. More than 70 percent of federal spending goes to 47 government dependence programs, including housing, farm subsidies, and the three largest entitlements, Medicare, Medicaid, and Social Security."Includes impressive chart.
Government Accountability Office reports that the Department of Health and Human Services has no authority to waive the work requirements for welfare.
Riots and strikes against budget cuts in Greece and Spain.
Romney can't get his tax plan straight. What a dufus.
Deloitte report on US debt.
Gary North highlights a Wall Street Journal article about the magnitude of the mess we're in.
"The problem with this article is it is naïve. It is Pollyanna to the core. It begins with the on-budget deficit: a mere $1.2 trillion a year. The on-budget deficit is peripheral to the real federal deficit, which reflects the unfunded liabilities of the federal government, primarily in Social Security, Medicare, and Medicaid. This deficit dwarfs the on-budget deficit. It is rising at $11 trillion a year.That is unimaginable.
This deficit has a present value of $222 trillion. This means that the federal government, today, must invest $222 trillion in market investments that will return about 5% per year for the next 75 years. No such investments exist, and the federal government does not have $222 trillion in reserve. The Federal Reserve system could print that, of course, but then that would only lead to hyperinflation."
Free trade need not be reciprocal. The country engaging in free trade benefits even if the other party employs protectionist policies.
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