Saturday, August 25, 2012

We can’t afford what’s coming and our income to meet it with is declining…

From John Sykes:

These 2 graphs should be all that a rational society would need to immediately stop the statist course we are on.  The middle class, on which all successful societies are based and the death of which ends all economic progress, are hurting. Without prompt structural reversal, we are doomed!

Tax Revenues Devoured By Medicare, Medicaid, and Social Security in 2045:

Spending on Medicare, Medicaid, the Obamacare subsidies, and Social Security will devour all revenues by 2045. Entitlement spending is already crowding out vital constitutional functions, such as defense.

Tax Revenues Devoured By Medicare, Medicaid, and Social Security in 2045

Negative $4,019: The Obama years have been brutal on middle-class incomes:

In January 2009, the month President Obama entered the Oval Office and shortly before he signed his stimulus spending bill, median household income was $54,983. By June 2012, it had tumbled to $50,964, adjusted for inflation. (See the chart nearby.) That's $4,019 in lost real income, a little less than a month's income every year.

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