Is It Time To Think Yet?
Roughly 50,000,000 Americans work for government or health care. Over the past decade, if you factor the heatlh insurance of government workers, medicare, and medicaid, most of heatlh care dollars comes from government. The 50,000,000 Americans that work for government/health are relatively very highly paid workers.
The spending from these workers generate a significant part of our GDP including auto sales, home sales, travel sales, and retail sales. In addition, a significant portion of the finanicial services industry generates its income servicing these employees, their retirement accounts and their pension funds.
If you think about it, most of our economy today is dependent on these 50,000,000 Americans generating a high income, paying lots of taxes, creating large retirement accounts, and spending lots of money.
THE PROBLEM: Up until recently, the private economy generated enough revenues and taxes to support most of govenrment and health care(as these two components of the GDP were much smaller on a percentage basis)....then when revenues declined following the dot.com bust, we loaned tens of trillions of dollars to the private economy to maintain the revenue stream....but when there was nothing left to lend to, we cut off credit to the private economy and revenues declined to government.
Today, government is forced to borrow $2 trillion dollars per year simply to pay its employees and health care workers. Last year, public companies borrowed a trillion and a half simply to stay in business. The strange part is government/Wall Street is primarily borrowing this money from our retirement accounts. We are basically loaning money to government so government can pay government/ health care/Wall Street workers so such workers can spend and pay taxes as our savings is drained.
In addition, relatively very little is now available to the private sector so the private sector is shutting down and fewer as fewer jobs are available. New home construction is down 80%, 2/3 of architects are unemployed, and private commerical construction has come to a virtual halt. We have 50,000,000 Americans without insurance......40,000,000 Americans on food stamps, and approaching 20,000,000 receiving unemployment.
The strange part is we really don't have the money to pay for much of this yet government and health care workers still enjoy a relatively consistent lifestyle while much of the rest of the nation suffers.
Soon you too will understand, if govenrment is not borrowing from our retirement accounts and spending heavily by paying large salaries to politicians and its workers...tax receipts to government would evaporate, much of our economy would implode, and we would simply have to restructure.
The strange part is we now have a two class system in America...those that get to benefit from government borrowing from our retirement accounts....and those that don't......the Constitutional question is why don't all Americans benefit equally from borrowinig form our retirement accounts and not simply government, Wall Street and health care workers.
Practically speaking, is this really much different than why we prosecuted Bernie Madoff or Tom Petters??????
Soon you too will understand when you start to think.