One would think the languishing economy would re-energize the independent spirit and self-reliance of the American people. After all, the current path of massive and ever-expanding government programs and entitlements is unsustainable and bodes ill for this country’s economic future. Just ask Erskine Bowles how bad things are.
Sadly, some Americans are either oblivious to the facts or have decided to ride the train over the cliff. A new Galllup survey shows that a growing number of Americans are planning on the government as a major source of retirement income.
When Gallup asked Americans who aren’t yet retired to rate the major sources of income for their retirement:
— one-third (34 percent) said Social Security, UP from 27 percent in 2007
— only 18 percent listed part-time work, DOWN from 21 percent in 2007.
Work less, depend more on government. Ominous signs.
