It’s Game Over For The U.S.

04-21-2011 • ZeroHedge.com

If the US were a company, it’d already be in Chapter 11. FoxNews published a WHOPPER of a story yesterday, though it somehow has not caught the attention of most people. If you have issues with Fox them at the door for a moment and simply focus on the numbers. For the first time since the Great Depression, the US is now officially paying out more in benefits than it takes in via tax receipts. If the US were a company, it’d be spending more in salaries than it makes in sales. Aside from being unprofitable, it’s also got a MASSIVE debt load. And it’s current policy of paying out more than it makes only increases this debt load… which begs the question… who’s going to pay the interest payments on the debt? Now, about those payments… More than half of all Americans (59%) receive a Government payout in one form or another. This is not a sliver of the population… it is endemic to the system. So those who complain endlessly about Government spending need to consider they as well as half of everyone they know, likely gets some kind of assistance in the form of social security, Medicare, food stamps or what have you. Here’s another zinger: Government payouts account for 79% of household growth since 2007. In other words, the only thing that has kept the US consumer afloat in the last four years is payouts from Uncle Sam.