Obama is running out of other people’s money.
Check it out:
Terry Jeffrey at Cybercast News Service. I remember talking about this 20 years ago, 25 years ago, the welfare, Social Security, the number. When I started this program, if my memory is right, in 1988, 1990, it took the taxes of four or five people to provide the benefits for one Social Security or retiree recipient. Meaning that if a retiree gets 30 grand a year, just to pick a number out of the blue, that the taxes from four people would pay for it.
So you were spreading the burden of providing for that one retiree over four people. Which I think was outrageous then but it was considered good. Oh, okay, that’s a small price to pay to protect our beloved seasoned citizens and pay for their existence after they’ve retired or when they’re on Social Security. But then the demographics were changing, the Baby Boomers were getting older, living longer, retiring at the same age, and the projection was that it wouldn’t be long — about now — that it would require the taxes of two workers to provide benefits for a Social Security recipient or somebody that’s retired living off federal donations or contributions or what have you.
So whereas that burden used to be spread across four people, it would be spread across two, and that would therefore cost those two people a lot more than it did 25 years ago. Well, now it looks like we’re getting close to this, because here’s the headline from Terry Jeffrey’s piece: “Eighty-six Million Full-Time Private Sector Workers Sustain 148 Million Benefit Takers — Buried deep on the website of the US Census Bureau is a number every American citizen, and especially those entrusted with public office, should know. It is 86,429,000.
“That is the number of Americans who in 2012 got up every morning and went to work — in the private sector — and did it week after week after week. These are the people who built America, and these are the people who can sustain it as a free country. The liberal media have not made them famous like the polar bear,” but they are truly the people who make this country work, the 86 million people that are working. There are 92, 93 million people who aren’t working, but there are 148 million that are simply taking.Continue reading on www.rushlimbaugh.com