HENRY is Footing the Bill

I found this article while blog surfing a while back and wanted to post a link to it for anyone interested. I think it does a nice job of explaining just who Obama's so-called "wealthy" people are, what their lives are like, and what it will mean for them to foot the bill for the ridiculous spending happening in Washington right now.

H.E.N.R.Y. = High Earner Not Rich Yet.

"These folks aren't America's hedge fund managers, investment bankers, or CEOs - who boast net worths in the multimillions and qualify as rich right now. Instead, these are the doctors, consultants, and attorneys, the marketing managers and CIOs, the owners of real estate agencies and security firms. They write the contracts, inspire the sales teams, and integrate computer systems. They own many of America's small businesses. A man aspiring to join this cohort, nicknamed Joe the Plumber, has put a face on a big issue in the presidential campaign: Whether it's fair or wise to raise taxes on the powerful job engine of America's corner stores, maintenance firms, and yes, plumbing contractors." Shawn Tully, "Look Who Pays for the Bailout", Fortune Magazine, October 2008.

This group of people has been grossly mis-characterized as "wealthy" but at best they are comfortable if they live within their means (what's that??) and follow a budget. Read the article...you just might be one. Or, you might be "hoping" to become one someday after years of hard work. You may just be lining up to foot the bill for America's entitlement society.

I just heard on the radio this morning the total TARP spending is officially 4 trillion. That is 4,000,000,000,000 folks. The zeroes don't lie.