For most retirees their income is a combination of Social Security, pensions and investment income. In a strong economy the investment income can be the largest portion of total income. That portion is nearing zero now with the government’s monetary policies and the weak economy. What chance does the economy have to improve when the investors cannot get a reasonable rate of return on their investment? Who profits from a monetary policy like this?
A government that ignores or does not even submit a budget and then spends out of control delays its financial reckoning. Individuals who mirror the government in their personal finances have lower interest rates on their debt. The millions of “takers” from local, state and federal government encourage the continuation of this kind of financial policy to get their “freebies.” Taking care of those in real need is quite different from the unsustainable gravy train that has been institutionalized with this policy. This cannot continue. The tank will run dry. Economic facts do mean something. The more wealth government consumes, the less economic growth will occur. Society must lovingly care for its weakest and less fortunate, but that portion of society should never be remotely near a majority.