Very interesting thread. Almost everything said here is absolutely true. Based on reading these I again wonder who voted in this last election?!?!? The current direction of our economy is ABSOLUTELY unsustainable. The policies of the previous two administrations, and to a somewhat lesser extent, all administrations for close to 80 years now, have been increasing the size of government and weighing down the economy with taxes and regulations. They have been offering the country socialism in many, many ways and the electorate has been voting for it.
Well, the most powerful economy in the history of the world has pulled the load about as far as it can and it can't pull much further. In many ways, the economy has not really grown in 60 years...when it comes to average income. In 1955, average income was around $4,400. In 2010 it was around $42,000. Wow, an increase of near 900%! Well, in that time frame, inflation was 2200% We can buy far less for the $42,000 than they could back in 1955. I was born in 1949, my dad was a truck driver and my mom never worked. (nothing at all wrong with moms working in the workplace of course if that's their choice) On that truck driver's salary, he bought a house, always had a car, took some driving vacations and put 3 kids through Catholic schools. Try doing that on one income/family today.
Nothing wrong with a cerrtain amount of socialism, but we have gone past the point that the economy (meaning you the working person/taxpayer) can pay for the vast amount of socialism that has been voted for in the last two elections.
Even Russian President Vladimir Putin said that an illiterate American electorate voted for Communism. He asked if they teach history in our schools, stating that every socialist experiment has ended in total collapse. I guess our president thinks that he can do socialism better.
My father grew up in the depression with nothing, his family barely keeping a roof over their heads and food on the table. His experience made him teach his children to work hard, save their money and never to buy anything they couldn't afford. He always said that there will be another depression. Many times over the years, I thought he was wrong. Now, unless something in our political world changes dramatically soon, I am CERTAIN of it.
I found this quote somewhere, "A free market is the only force in human history to uplift the poor, establish the middle class and create lasting prosperity"
Government doesn't do that. I get sick to my stomach thinking about my childrens' futures and also that Americans have sunk to voting for people (not just President Obama, most of our elected federal representatives) that they hope will take care of them rather than cutting their own way in the world.
I guess I'll just have to keep praying that we wake up in future elections.