The touted increase in GDP for the last quarter is due to government spending with BORROWED money. That's not real growth.On Friday, FDIC took over nine banks. The biggest daily haul during our current economic troubles.
Food Stamps are feeding over 29 MILLION Americans and illegals.
Costco is accepting food stamps for the first time in its history. No sense in turning away a lot of business.
In December 2008 economists estimated that unemployment in December 2009 would be 7.5%. It will be over 10%. Unemployment benefits have been extended for the third time this year. It doesn't sound like Obama has any faith in his own ideas. (I still assume he is not trying to destroy the country. On purpose.) Estimates for unemployment in December 2010 is now 10.2%. These are government figures! You know things will be worse.
Welfare is on the rise. Naturally, the biggest increases are in states with some of the worst jobless rates. Oregon up 27% in May from a year earlier; South Carolina 23% and California’s 10%. A few big states that had seen declining welfare caseloads just a few months ago now are seeing increases: New York is up 1.2%, Illinois 3% and Wisconsin 3.9%. Welfare rolls in a few big states, Michigan and New Jersey among them, still are declining, largely due to population losses.
Cash for Clunkers was a botched program. House sales are off.
The deficit is still growing.
Tax revenues are falling.
Stand up on your hind feet. Don't count on big government to get us out of this mess!
