22 Apr 2011

Unhappy Days Are Here Again

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The Fiscal Times reports that the United States is experiencing a level of dependency on government unknown since the depth of the Great Depression.

For the first time since the Great Depression, households are receiving more income from the government than they are paying the government in taxes. The combination of more cash from various programs, called transfer payments, and lower taxes has been a double-barreled boost to consumers’ buying power, while also blowing a hole in the deficit. The 1930s offer a cautionary tale: The only other time government income support exceeded taxes paid was from 1931 to 1936. That trend reversed in 1936, after a recovery was underway, and the economy fell back into a second leg of recession during 1937 and 1938.

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2 Feedbacks on "Unhappy Days Are Here Again"

JKB

Time to break out the happy tunes of the times. It’s quite catchy and it recycled

Dick Robinson:If I ever get a job again



SDD

But don’t you think that’s the Democrat’s real objective — to get more people depending on government? Who would vote for the Party of Government?



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