We are experiencing, in effect, a modern-day depression. Says Mr. Zuckerman chairman and editor in chief of U.S. News & World Report.
Consider two indicators:
First, food stamps:
More than 45 million Americans are in the program! An almost incredible record. It’s 15% of the population compared with the 7.9% participation from 1970-2000.
Second, Social Security disability—another record.
More than 11 million Americans are collecting federal disability checks. Half of these beneficiaries have signed on since President Obama took office more than three years ago.
IT HAS DOUBLED SINCE OBAMA HAS TAKEN OFFICE!
via Mortimer Zuckerman: Those Jobless Numbers Are Even Worse Than They Look – WSJ.com.