According to a October Census report over 108,000,000 Americans are now received means-tested benefits. More American are receiving benefits than are currently employed full-time.
“ This is obviously unsustainable. You have 1 full-time worker supporting 1.07 people on means-tested welfare programs. It is a simple math problem. Of course, this also ties in on why the government so desperately needed to borrow money or was facing a shutdown.”
These are 2011 numbers. In 2013 the work force continues to decline while the number of assistance precipitants continues to climb. This welfare to working disparity continues to expand. This is unsustainable. This economic disaster is largely being ignored by the mainstream press as the Obama administration keeps on spending and keeps on going deeper into debt. That worked out well for the first housing bubble. Right? That is working out well with student debt as well. Right? More people on means-tested benefits than actually working full-time should work out well. Right? You don’t need to be an economist to know this is not a good sign.
Just like the housing bubble that burst, the dot com bubble before it, and the current student loan bubble that is bursting now, borrowing to support the means-tested benefits bubble will also burst.
Are you prepared?