A few weeks ago an attractive young bartender at a nice new Italian restaurant here in Downtown LA said to me, “Well if I do have kids, it’ll just be one, because in today’s Modern Economy I have to figure on having to be able to support myself and a child. So, I wouldn’t want to take on more responsibility than I can handle on my own.”

Modern Economy? What is the Modern Economy and when did it start? I asked myself.

Well the Modern Economy seems to have started with the election of President Obama. I say this because I have come to realize that the Modern Economy is not about economics at all, the term is simply used to describe the state of our current social condition.

You see if you like President Obama and plan on voting for him again, you believe that his administration has created three million jobs.

If you like Mitt Romney and plan on voting for him, you believe that President Obama has lost six million jobs.

The reality: nine million jobs were lost, three million jobs were gained and there is still six million jobs gone missing.

And it is this ludicrous argument among Americans that defines the Modern Economy. Ludicrous? Yes, ludicrous indeed, because the number that truly matters is the size of the workforce, defined as those people CAPABLE of working rather than those SEEKING work. More simply put, 63% of Americans capable of working are actually counted in the Modern Economy workforce. Of this 63% my research shows that only 43% can actually be considered fully employed.

What does all this mean? Well, it means that in a country of three hundred and fifty million people there’s only around one hundred and thirty six million people that care to work and of this group only about one hundred and ten million are actually working. The conclusion, which we can now all easily reach, is that one hundred and ten million Americans are supporting themselves and another two hundred and forty million people. The fact that one third of our country is supporting the other two thirds is far beyond an economic problem, it is a social calamity.