"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."--Alexis de Tocqueville, Democracy in America
"Even as the economy has recovered, social welfare benefits make up 35 percent of wages and salaries this year, up from 21 percent in 2000 and 10 percent in 1960, according to TrimTabs Investment Research using Bureau of Economic Analysis data."--CNBC
This is one thing that de Tocqueville got wrong. In fact, American has endured until the bankers discovered that they could bribe the government with the government's money. Countries seem to be able to tolerate large social welfare benefits, but when the bankers take over the government, it isn't long before the country becomes a banana republic.
ReplyDelete