<<<<"According to the Federal Bureau of Economic Analysis, the share of total personal income in the United States that comes from government transfer programs — Social Security, Medicare, veterans’ benefits, unemployment compensation, etc. — has grown rapidly over the past six decades, from 5.9 cents of every dollar in 1950 … to 17.3 cents in 2009. In addition, according to BEA, another 9.8 cents of every dollar went, in 2009, to salaries for state, local and federal government employees, a figure that does not include costs of fringe benefits. In other words, more than a quarter of all personal income in the United States is paid for with tax dollars.">>>>
I predicted that the train would hit the wall in 2003. What I didn’t count on was China and Saudi Arabia getting into the act and loaning us trillions of dollars so we can continue our downward spiral. If no other country jumps into the fray, the train hits the wall in 2012.
India doesn’t have much money, but they are a large country and if they decided to follow China and Saudi Arabia, the train won’t hit the wall until 2013, or the latest 2014.
This is without obamabanananiggercare. If we actually attempt to fund it, this year is our last hurrah:
From: gary beauregard [mailto:firstname.lastname@example.org]
Sent: Tuesday, April 06, 2010 6:51 AM
To: ‘Jack Stone’; Tom; Pat Hayes
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Subject: Re: The takers weigh down the makers
|I suppose that all depends on how long the Fed and the US government can con the rest of the world into supporting same.
— On Tue, 4/6/10, Pat Hayes <phayes9402> wrote: