At the rate shown on this chart we will all be receiving government assistance within 20 years. No one will ever have to work after that! Notice how it accelerates under Obama. Yee haaa! What's wrong with this picture? <img src="http://si.wsj.net/public/resources/images/NA-BN588_Benefi_D_20111005140904.jpg"> Nearly half, 48.5%, of the population lived in a household that received some type of government benefit in the first quarter of 2010, according to Census data. Those numbers have risen since the middle of the recession when 44.4% lived (in) households receiving benefits in the third quarter of 2008. http://blogs.wsj.com/economics/2011/10/05/nearly-half-of-households-receive-some-government-benefit/
I wonder what is the cost of the gov't giving you a dollar. I mean if I give my kid 20 dollars for doing nothing, this transaction takes about 8 seconds (reach in wallet, take out money, put back wallet) it didn't cost me a dime to process that. If the gov't gives you a dollar, the process probably costs the Fed 5 dollars.
The financial collapse bailout really was such a tiny mostly paid back transaction, and its a 1 in 100 year thing. Ironically most of the cost was by govt run fannie and freddie All these other social govt handouts are basically permanent, never ending. Big difference.
The bailout money loaned to them is only the tip of the iceberg. What about the millions of jobs lost directly due to their casino trading? What about the billions/trillions of dollars in lost investments? What about the trillions of dollars in lost property values, many of which had nothing to do with sub-prime? Yes, the government and government entities played a major role in facilitating the crap game. BOTH sides of the isle are equally guilty. However, at the end of the day it was the "wizards" with the MBA's that made the trades, sold the bundled shit, and kept selling it well after they knew it was going to blow up. Giving them credit for paying back the loans they never should have received in the first place doesn't quite cover their overall responsibility for destroying the economy to begin with. Damage done which is so broad and so deep we will probably never recover from it. And to date, not a single indictment brought by the supposed anti-Wall Street Obama administration who has proven once and for all that there is little difference between the two parties. Obama's rhetoric is far more aggressive than his actions. Both parties are bought and paid for.