Thursday, May 14, 2009

Say what??

The total cost of Social Security, Medicare, and Medicaid is projected to leap from 8.4% of GDP in 2005 to 18.9% of GDP by 2050.

· Federal program spending is projected to reach 27.6% of GDP by 2050, while net interest spending will consume an additional 9% to 46% of GDP (depending on whether massive deficit spending increases interest rates).

· Unless Social Security, Medicare, and Medicaid are reformed, lawmakers face three options:

A) Raise taxes every year until taxes are 60 percent ($11,000 per household) higher than today;

B) Eliminate every federal program except Social Security, Medicare, and Medicaid by 2045; or

C) Do nothing and watch the federal debt expand so much that even a minor interest rate response would induce a spiral of rising debt and interest rates, threatening the entire economy.


Entitlements are out of hand. All of these should be unnecessary. People expect the government to take care of them, and their families - instead of providing for themselves, or let private charities take them up in hand. Where in the Constitution do we find provisions for giving people other people's money? General welfare does not mean payments from the government! Sorry, but entitlements should go. Give em the heave-ho. When Social Security was started, it was Social Security INSURANCE. It doesn't mean a guaranteed paycheck for 11, 12 or more years. Insurance means you don't rely on it for your sole support - you SAVE money while you are working. Too many people don't do this, and then they wail and bemoan the fact that their SSI check is "too small". What about their families providing for them? That's fallen into disfavor, however, it would be the best system around.


  1. Entitlements are THE #1 reason America is where it's at today...make no mistake about it.

    People need to man (or woman) UP and take control of THEIR OWN they USED to do.

    It's the old "Give a man a fish, and he eats for a day, TEACH a man to fish and he eats for life" gig all over again.

    Time to stop the "giveaways...America is NOT some game show, and it's people are not merely folks in the audience OR contestants.

    But that's just *my* opinion.


  2. I'm fed up with the spending going on - it has been for a long time - and its past the ridiculous stage - and the progressives are taking us down a road that is full of pitfalls for the country. But then so are the republicans, they spend almost as much as the democrats.