Barack Hussein Obama promised change in America if he were elected, and based upon the money we in the middle class have left in our pockets after a payday, that is all he left us. Rich Lowry Nails Obama
USA Today reports that in 2010, â€œwages accounted for the lowest share of income â€” 51.0 percent â€” since the government began keeping track in 1929.â€ In February of this year, â€œwages slipped to another historic low of 50.5 percent of personal income.â€
As the proportion of our income derived from wages has declined, the proportion derived from government has increased. â€œA record 18.3 percent of the nationâ€™s total personal income was a payment from the government,â€ USA Today writes. The recession obviously has much do with this, but â€œthe trend shows few signs of easing, even though the economic recovery is nearly 2 years old.â€
Government accounted for roughly 12 percent of income from 1980 to 2000, according to the paper, then started an inexorable march upward. In 1990, Americans on average received $3,686 in benefits from government; in 2000, it was $4,763; in 2010, $7,427. Almost all of it comes from the feds.
Someone has to pay for this, and if itâ€™s not our creditors, itâ€™s people making money and paying taxes. The private economy is caught in a vise between old-age entitlements and welfare programs for the poor. Everyone knows about entitlements. Social Security and Medicare already cost about $1.2 trillion, even before baby boomers begin to retire in earnest. Medicare has grown by 80 percent since 2000, and is set to career ever upward.
For every dollar of Social Security and Medicare, we spend roughly another 50 cents on anti-poverty programs, broadly defined. These programs have expanded at a rate 89 percent faster than inflation since 2000, according to the Heritage Foundation. Fifty million people are enrolled in Medicaid, and more than 40 million are on food stamps. Under George W. Bush, anti-poverty spending topped 3 percent of GDP for the first time. It is now above 4 percent of GDP, and Pres. Barack Obamaâ€™s vision is for the programsâ€™ perpetual growth.
The man’s policies are killing the middle class and starving the poor, for goodness sakes people, he is BREAKING this Country! Let’s make sure he is fired in 2012 so that he cannot continue the damage he and his Faculty Lounge Administration have brought to bear on America!