Time to take RESPONSIBILITY America!!!!
From Mish's Blog:
One in nine Americans are using federal food stamps to help buy groceries as the country's deep recession forced another 591,000 people onto the federal anti-hunger program at latest count.
Enrollment jumped 2 percent to 33.2 million people in March, the fourth consecutive month that rolls hit a record, said the Agriculture Department. The average monthly benefit was $113.87 per person.
(Can you imagine on an annual basis what percentage of WalMart's revenues comes from food stamps....and how much the trucking industry benefits from food stamps.....and the manufacturers of food????)
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.
Here is the problem folks....we are spending two trillion on benefits and our deficit is now running two trillion. Government TODAY simply doesn't have the money to support our elderly and less fortunate. And the numbers are growing rapidly increasing the burden WHILE the tax receipt are evaporating. If you think the deficit is big this year....just wait until next year...
In other words, we are basically asking foreign nations to support our welfare systems while their populations get little or no benefits. WHO IS KIDDING WHO???? How long do you think this will last before people start catching on?????
We simply cannot afford to continue this GOVERNMENTAL spend...we Americans must take responsiblity for our own elderly and less fortunate and not depend on foreigners to subsidize our welfare system.
Yes sacrifices will have to be made.....but we are up to the task.....we can handle it and we are ready for change......if not......our deficits will explode and no one will lend us a dime....interest rates will skyrocket into double digits and beyond.....
Would you loan America money right now at single digit interest rates if you knew Benny B was printing like there was no tommorrow.....and if he keeps printing......there may be no tommorw. With the debt load out there right now...double digit interest rates would bring our economy to a grinding halt.....
It is time to step up to the plate.....we must become competitive......yes our economy is going to shrink significantly.....probably 25-50%....maybe more as we deleverage.....IN THE LAST TEN YEARS...we have built an economy PRIMARILY on levarage and government spending......THIS IS NOT SUSTAINABLE....we must restructure NOW.....BEFORE IT GETS WORSE...it will be painful.......but we will deal with it.....we can't continue borrowing to sustain a lifestyle we can't afford or we will have no lifestyle left........the time is NOW!!!! We are ready to take responsiblity!!!! We are ready for CHANGE!!!!!