“Public salaries and welfare are overwhelming some cities, counties and states”

The Firewall

art.food.stampsSocial spending is out of control, with the baby boomers now challenging Social Security and Medicare.  Obamacare, per the latest revised government report, is increasing the deficit. Public salaries and welfare are overwhelming some cities, counties and states; many public pensions owe more than they can pay, thanks to the long held Fed lid on interest rates that has held safe investment earnings low. American government at all levels has reached the limit or outrun the resources available. Many places are increasing taxes, thereby further defunding their private sectors. There is no imaginable source that will continue to fund America’s current social welfare and foreign military extravagance.

via Articles: Bread and Circuses: The Last Days of the American Empire.

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One thought on ““Public salaries and welfare are overwhelming some cities, counties and states”

  1. genomega1 04/04/2013 / 11:26 PM

    Reblogged this on News You May Have Missed and commented:
    “Public salaries and welfare are overwhelming some cities, counties and states”

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