I have decided to term a new economic phrase:
"The Dave Foley Moment."
The Dave Foley Moment (DFM) is the instance where, regardless of government promises, the inability of the economy to produce the economic production necessary to make good on those promises, trumps those promises, thus delivering the recipients of such government largess a harsh and cruel economic rude-awakening.
For example, the Canadian judge has ordered Dave Foley to pay child support and alimony equal to 4 times the amount of money he makes. Governmental demands and promises made to Mr. Foley's ex be damned, the economic reality is that she will get nothing. Mr. Foley does not make enough.
Another example is all the promises of socialist economies. Food, wealth, health care. It doesn't matter if Stalin or Mao "decreed" everyone is entitled to food, the economic reality is the empty shelves.
I believe in the near future the United States will have its fair share of "Dave Foley Moments." For example all the classes of society that depend on government checks to pay for their lives will be very upset when, despite Barack Obama's guarantees they "entitled" to such largess, the productive members of society just up and go Galt, leaving the US Treasury without the funds to make good on those bribes...errr...social programs.
Old people will also have their DFM's when, sure, that social security check came in the mail, but because of significant inflation it only buys half of what it did a couple years ago.
Young people who voted for Hope and Change v. 2.0 will see their student loans crush their financial futures, not to mention the labor market realities crush their employment prospects when nobody hires the "Music Therapy" major, except Starbucks.
Oh, there's going to be a lot of Dave Foley Moments. And it's just another instance of how god loves us and wants us to enjoy the decline!