The following graph demonstrates the dramatic growth of dependency on federal government benefits. Given the rapid increase in the established trend, any day now at least one person in more than half of all households in America will be receiving some type of government assistance. The current federal debt of $15.3 trillion is greater than the entire Gross Domestic Product (GDP), and is increasing by more than $1 trillion annually.
By our selfish nature, people are usually willing to see someone else's sacred cow put on a diet, but rarely their own.
Entitlements and other government social programs now have such large dependent constituencies that even a hint of changing benefits for future recipients creates an avalanche of criticism; remember the outrage for Paul Ryan’s plan to reform Social Security, not for current recipients but those a generation from now?
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 25th, 2014 | John Ransom