I can’t help it. I love to go to the government websites and look at the actual numbers they report versus the story I hear in the MSM. Today they reported Personal income and personal spending. Below is a link to the table of data.
It seems that real (after using the fake government inflation number) consumer spending has fallen and can’t get up.
If the government used the real rate of inflation of 9% then real spending would be plunging. Still, the data in the government table is fascinating. Here are my takeaways:
- Wages from private companies topped out in March 2008 at $5.48 trillion. Today, they stand at $5.44 trillion, even with more people in the workforce and three years of inflation.
- You’ll be happy to know that government wages have increased from $1.13 trillion to $1.19 trillion over this same time frame. That’s what we need – more government workers.
- In August 2008 savers and senior citizens were able to generate $1.42 trillion of interest income. Thanks to Ben Bernanke, savers and senior citizens are now generating $1.02 trillion of interest income. Ben has taken $400 billion from savers and seniors and handed it to his puppet masters on Wall Street.
- You’ll be happy to know that dividend income is higher than 2008 because we wouldn’t want to hurt the 1% richest Americans that own all the stocks and get all the dividends.
- And now for the real kicker. Government transfers for SS, Medicare, Medicaid, and UC was $1.7 trillion in the middle of 2007. Today it is running at $2.3 trillion, a 35% increase in four years.
- Something smells in the State of America. Here are the percentage increases over the last four years in major government transfers:
- Social Security – 23%
- Medicare – 31%
- Medicaid – 42%
- Other (WTF is $432 billion of other?) – 52%
Sorry folks, these government transfers don’t pass the smell test. Social Security, Medicare and Medicaid should be increasing at the rate of people turning 65 years old. These rates of increase are 5% to 10%. This tells me that millions are going on these rolls by faking disabilites or illnesses. I think that goes without saying. The Democrats and bleeding heart liberals think this is a good thing.
This data paints a bleak picture for America. Wages from real companies declining, government hiring more people, and government transferring hundreds of billions more each month to the unproductive by borrowing against the futures of the productive and unborn. Welcome to Obama’s World.
The fact that consumers are spending less and saving more is decried as a bad thing in the MSM. What a warped society we have wrought.