In his first two years in office, President Barack Obama will increase annual federal welfare spending by one-third from $522 billion to $697 billion. The combined two-year increase will equal almost $263 billion ($88.2 billion in FY 2009 plus $174.6 billion in FY 2010). After adjusting for inflation, this increase is two and a half times greater than any previous increase in federal welfare spending in U.S. history. As a share of the economy, annual federal welfare spending will rise by roughly 1.2 percent of GDP.
Under President Obama, government will spend more on welfare in a single year than President George W. Bush spent on the war in Iraq during his entire presidency. According to the Congressional Research Service, the cost of the Iraq war through the end of the Bush Administration was around $622 billion. By contrast, annual federal and state means-tested welfare spending will reach $888 billion in FY 2010. Federal welfare spending alone will equal $697 billion in that year.
While campaigning for the presidency, Obama lamented that “the war in Iraq is costing each household about $100 per month.” Applying the same standard to means-tested welfare spending reveals that welfare will cost each household $560 per month in 2009 and $638 per month in 2010. Read More
Michael Moore Takes Anti-Capitalism Film on Road
“Capitalism: A Love Story,” a film based on the premise that greed and corruption have subverted U.S. democracy.
Moore keeps a lakeside home near Bellaire, a rural village about 240 miles northwest of Detroit in Michigan’s northwestern Lower Peninsula, and produced the film in a nearby town. The two showings along with three parties raised about $25,000 for the local Antrim County Democratic Party, its chairman said.
Michigan’s unemployment rate of 15.2 percent is the nation’s highest. It’s even worse in parts of northern Michigan, where numerous auto parts factories and other manufacturers have folded in recent years.
The film blames the economic crisis on President Reagan-era deregulation and greedy business executives who Moore believes undermined free enterprise by pushing for policies that benefited the richest 1 percent while hurting the lower and middle classes.
Working Americans, we just as well buy a wide screen TV and a very soft couch to lay around on while we take all this socialist welfare money that Obama is spending. I been seeing this coming all along, Obama wants all Americans depending on the government for their food, place to sleep and therefore be ruled by the dictator! Instead of trying to cut waste in Welfare and Medicare he’s creating more waste and corruption. Before I forget, do you think Michael Moore has any room to talk about greed? Look as Obama is paddling Michael Moore’s boat to a socialist America. The two should head their boat to Cuba and stay once there. Hand Socialist Maxine Waters a paddle to help speed you three on your way, Cuba is waiting! What say you working Americans?