"One in five Americans -- the highest in the nation's history [20%] -- relies on the federal government for everything from housing, health care, and food stamps to college tuition and retirement assistance." To put that 20% in perspective, "That's more than 67.3 million Americans who receive subsidies from Washington," and how do you think they vote and for whom do you think they vote? Twenty percent totally supported by the federal government. "Government dependency jumped 8.1% in the past year, with the most assistance going toward housing, health and welfare, and retirement." Retirement!
The Heritage Foundation’s 2012 Index of Dependence on Government gives a never-before-seen gauge of just how dismally dependent on government that the population has become under the Obama Administration.
- Government dependency jumped 8.1 percent in the past year, with the most assistance going toward housing, health and welfare, and retirement.
- The federal government spent more taxpayer dollars than ever before in 2011 to subsidize Americans. The average individual who relies on Washington could receive benefits valued at $32,748, more than the nation’s average disposable personal income ($32,446).
- At the same time, nearly half of the U.S. population (49.5 percent) does not pay any federal income taxes.
- In the next 25 years, more than 77 million baby boomers will retire. They will begin collecting checks from Social Security, drawing benefits from Medicare, and relying on Medicaid for long-term care.
- As of now, 70 percent of the federal government’s budget goes to individual assistance programs (housing, food, income, student aid, or other assistance, with recipients ranging from college students to retirees to welfare beneficiaries), up dramatically in just the past few years. However, research shows that private, community, and charitable aid helps individuals rise from their difficulties with better success than federal government handouts. Plus, local and private aid is often more effectively distributed.
When dependency reaches this level, it really speaks to what's become of us as a people on two levels: the truly destitute and the abusive. And suffice to say, the latter has brazenly ramped up under the Obama Administration. Rush reminded us of one such case to exemplify that new level after Obama took office: the Henrietta Hughes shill who was utilized during the campaign to promote his first stimulus bill. The Lie Politic wrote at the time:
We all know them. People that abuse the system. People that work a few months of the year, just long enough to qualify for unemployment, and then jump on the unemployment bandwagon. Those that get food stamps to support their families despite being able bodied, often educated and capable of work. And, of course, the people that work “under the table” while receiving government aid intended for the truly needy.
During Obama’s campaign to promote his stimulus package, he staged an event with a woman, Henrietta Hughes, who, as it turns out, appears to be anything but truly needy.
It appears that the desperate homeless woman owns real estate she shifted into the name of her son to avoid taxes and acquire government aid. Apparently, Henrietta is the teacher and...also apparently sold real estate at a significant profit in 2005. Henrietta has now become the poster child the Democrats wish to use to justify the massive expense of helping the chronically unemployed, not-so-needy and not-at-all-homeless.
Even reminds one of the shear delusion and sprint towards dependency prior to his election that Peggy Joseph expressed: "I won't have to worry about putting gas in my car; I won't have to worry about paying my mortgage..." Speaking of mortgages...
Obama sic'd Holder and AG's across 42 states on the big mortgage lending banks, and on Thursday, shook them down for $26 billion to supposedly cover the refinancing cost of those who were 'hit upon and forced, under duress' by predatory lenders to take out mortgages that they couldn't afford to pay in the first place. Social justice at its finest: the same government that forced the banks to make the subprime loans (then blamed them for the bubble bursting), now once again forces those same institutions to cover their reelection effort with payoffs (the gift from Carter given to Obama). Of course, it wasn't announced like that, but rather like this:
President Obama hailed a landmark deal struck Thursday with the nation’s largest banks over alleged foreclosure abuses, arguing it will help millions of people dealt a blow by the sagging housing market.
Under the agreement reached Thursday, large banks — including JPMorgan Chase, Bank of America and Citigroup — are expected to pay approximately $26 billion to cover refinancing costs for homeowners and reimburse them for shoddy foreclosure practices.
However, if you'd prefer an expansion on the unabridged version, here's Levin (gives a great primer on the Community Reinvestment Act):
"Now Barack Milhouse Obama, today in Washington, D.C., says 'the banks duped us'. The 'money changers'. Straight out of the Communist Manifesto."
UPDATE: Bloomberg reports that the $25 billion settlement (not certain why that number changes back-and-forth by a billion!) with banks over foreclosure abuses is going to result in a wave of home seizures. Great...more foreclosures. And Open Market explains just how the settlement rips off innocent investors and pension funds in order to reduce the banks’ costs of bailing out delinquent mortgage borrowers and others.
"They’re using other people’s money to pay for a ton of this. Pension funds, 401(k)s and mutual funds are going to pick up a lot of the load." ~ Scott Simon, Pacific Investment Management Co.