Our leaders and some of the most educated academics still say that government spending absorbs private savings despite "black and white," absolute, unequivocal proof that the opposite is true.
In today's personal income report the numbers were starkly clear: Government transfer payments (for Social Security, disability, medicare, medicaid and unemployment insurance) added $254 billion to personal income in the past year. In contrast, private wages and salaries DECLINED by $154 billion!
And personal savings in April reached a record of $620 billion!
Only government can be a net supplier of savings!!!
How can our leaders be so blind to the truth?? This nation's belief system is killing us!!