President Obama is succeeding in redistribution of wealth according to a USA Today analysis of personal income during the first quarter of this year. Private paychecks are shrinking and government benefits are at the record levels.
USA Today reported:
Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.
At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010...
The trend is not sustainable, says University of Michigan economist Donald Grimes. Reason...
Here is a 2001 radio interview where Obama explains the wealth redistribution strategy he is now implementing.
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