Dispenser of Negativity
- May 30, 2007
- Reaction score
- Political Leaning
Rebound? In the first quarter of 2010, private business paychecks shrank to new lows, representing their smallest share of personal income in US history, while government-provided benefits (social security, unemployment, food stamps, etc.) rose to record highs.
With private sector jobs being lost, incomes declining and tax bases shrinking, the increases in government spending were both unsustainable and destructive. More was being spent by the government than earned by the private sector. Not only were taxes not covering expenses, impoverished states with insufficient cash on hand to meet obligations were holding back tax refund checks!
So who with a straight face can say that when Government spends more than people are making as a collective as a good thing?
Recovery? How About 'Relapse'? by Gerald Celente