There is, however, an anti-responsibility aspect. If you saved to be able to get through a bad time, like getting laid off, or for retirement, then you can’t get the food stamps. If you lived foolishly and have no savings, then you can get the food stamps. All the incentives point one toward maximum dependency.
They do look at bank accounts, but it wouldn’t be hard to fool the system because they’re counting on you to be honest and show them all accounts, not just one that is handling pin money.
That is where we are right now. I will be decimating what’s left of my Retirement Savings starting in January. Just turning 59 and a half so I can access my funds without Penalty.
My Wife has been out of work for seven months. Her Unemployment ends December 31st. My hours have been reduced because the Company I work for as a 1099 Contract Employee is barely making it.
Looks like we’ll be selling the House. With two incomes we were doing OK. You live to what you make and now that equation is changing. We have a $1350 COBRA payment due every month because my Wife had Health Insurance through her old Job. If she found a new job with Benefits even with a lower Salary than before, we could pull it off.
I always planned ahead, but I never planned on having a Communist in the White House for eight years in a row.
I had hoped Lord Obama would be dethroned and things would get better, but 64 Million Useful Idiots thought otherwise.
2013 be an interesting year, no doubt about it.