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Private pay shrinks to historic lows

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posted on May, 25 2010 @ 09:17 AM
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Private pay shrinks to historic lows


www.usatoday.com

Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.
At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010.
(visit the link for the full news article)




posted on May, 25 2010 @ 09:17 AM
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Well, Obama made no secret during the campaign when telling "Joe The Plumber" he thought the wealth should be "spread around". It looks like Obama has succeeded beyond his wildest dreams.

As the economist says in the article "this trend is not sustainable". The question no essential becomes: how long can the unsustainable trend last?

www.usatoday.com
(visit the link for the full news article)



posted on May, 25 2010 @ 11:52 AM
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the numbers are skewed slightly due to the Stimulus program which happened in the first quarter, plus when my brother was helping me do my taxes, he said I got some extra money back because I am young and I work full time, or something like that, but April is in the second quarter, so I dont know if that was taken into account or not.

Still, the trend is very alarming. it could be that small businesses are using government grants to help them expand, but I am clueless as to if that is the case or not.

the best way to possibly spend federal welfare money is to use it to teach people new and MARKETABLE skills. I am literally dumbfounded by the sheer amount of people who have NO computer training or understanding to speak of.

There are some people who are great at what they do, but if your sustaining yourself on something you make, like an artist or a jewelry maker, you better have low expectations of wealth accumulation.



posted on May, 25 2010 @ 12:21 PM
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Originally posted by drsmooth23

the best way to possibly spend federal welfare money is to use it to teach people new and MARKETABLE skills.


Agreed, but there is very little market incentive accompanying the policies of this administration. The focus seems to be either creating more government jobs or more access to living off the dole, neither of which necessarily require marketable skils at all.




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