I often read stories which claim the U.S. economy is on its way back. However, the Dow Jones is not a true indicator of what’s happening down on Main Street.
Wages for Americans are still depressed and our workforce participation rate remains at a catastrophic almost 36-year low. The ruse of printing money and artificially keeping interest rates low can’t hide the truth forever — we no longer have a free market/free enterprise economy. We are entering the era of a government-driven economy.
And there’s another disconcerting aspect of our economy — the expansion of the welfare nanny-state and the dependency society, which is becoming generationally entrenched.
As CNS News writes, “The Census Bureau reported in a study released this week that 65 percent of American children lived in households taking aid from one or more federal program as of the fall of 2011. “Almost two-thirds (65 percent) of children,” said the Census Bureau, “lived in households that participated in at least one or more of the following government aid programs: Temporary Assistance for Needy Families (TANF), the Supplemental Nutrition Assistance Program (SNAP), the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), Medicaid, and the National School Lunch Program.”
Now, I could be happier if this statistic included kids attending college who were receiving some type of financial aid — but then again, how much debt will they accumulate in an economy where they’re struggling to find a good paying job?
Continues on AllenBWest