Almost half of America pays no federal income tax. Yet dependence on federal spending is at an all time high. Farm subsidies, college loans, Medicare, Medicaid, Social Security, and welfare have grown so far over the last 40 years that we may soon discover what happens when we plumb the depth of Lady Thatcher's wise observation regarding the difficulties encountered when we run out of other people's money to spend.
At the very least, we are going to find out what happens when our spending on social programs exceeds the available income for the average citizen. Click the image for the full report.
Sadly, the theoretic Chinese curse hoping that one lives in "interesting times" applies.
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