In April, early withdrawals for hardship
from 401(k) and 403(b) plans
…jumped to 44%
from 15% in October 2008
even though federal and state penalties
apply to early withdrawals
…wages are actually being cut
for the first time since the 1930s
Are living standards likely to rise or fall
for those who don’t step back from conformist thought
as many with collectively held erroneous assumptions fracture
succumb to deer in headlights incomprehension
compounding prior miscalculations?
One of every six dollars of Americans' income
is now coming in the form of a federal or state check or voucher
Benefits, such as Social Security, food stamps,
unemployment insurance and health care
accounted for 16.2% of personal income in the first quarter of 2009
…the highest percentage since the government began compiling records
in 1929
…Benefits rose at a 19% annual rate in the first quarter
compared to the last three months of 2008
Unemployment insurance nearly tripled in the past year
The bad economy has prompted a 10%-15% jump
in early retirements
Food stamps…Enrollment
hit a record 33.2 million people in March
up 5.2 million from last year
Benefit spending soars to new high
If a few separate themselves from what some want them to perceive
to see what most don't before they do
should the few be better off for having done so?
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