2012 Elections results finally in US officially applies 4 Banana Republic status @ UN

[Anymouse]

It was a natural results of socialism and the inevitable failure of a welfare state.

Are we talking about the same thing?

I'm talking about the great crash in 2008 when Wall Street bundled toxic assets, sold them to unsuspecting traders with a AAA rating, eventually people wised up to the fact that the values were "toxic" (values were over-inflated) and panic ensued. The "perfect, self-regulating markets" I'd learned about as an MBA at Southern Methodist University, that Republicans assured us required no government oversight, came crashing down. But for Obama's recovery measures, we'd be remembering this time as The Second Great Depression.

But somehow welfare queens are to blame?

Yes DP. Welfare queens are the fault because they haven't given the last of their assets over.
As a member of the infamous Romney 47% myself (a disabled veteran), I do wonder sometimes why the horrendous attacks on those most poor in our society (including me). Food stamps are not a programme to support the poor: they are a programme to support farmers.
Oil companies just barely scraping by have subsidies that make welfare programmes pale by comparison.
And why did NASCAR need another injection of welfare aid in the Fiscal Cliff bill?