Kind of a version of follow the money. Can you imagine how long some politician would survive if he ran on a platform to demolish this program now? My point is, the pols have been buying votes with these programs for years and we have reached the point of no return now. Try to chop off any one of them and the howls start.
Between personal and business welfare, I’d estimate 80% of the cash expenditures of the Fed gov fall into these categories. We are so far down the rabbit hole now there is no escape. If interest rates rise, either as a result of inflation or the other way around, the interest on the national debt will become unpayable. On top of that, the deficits will grow exponentionally as the inflation fueled entitlements increase the deficits even more. There is no escape from the notion: there is no free lunch.
Social Secuirty Trustee admits it’s a Ponzi Scheme
http://www.youtube.com/watch?v=ITMEZImvNio
the SS Trustee also says that payroll taxes alone will have to be 30% in order to keep paying the current level of benefits.
Money quote:
“Writing yourself a check for $1,000,000 does not make you a millioniare”
FDR specifically said-—I read the message to my students-—that “voluntary annuities” (I.e., private) should replace government funding. FDR was the first to call for privatization.
No he wouldnt. When fdr signed the SS, it was just a dim-0 plot to rob working people all their working lives and use the money to but the votes of old people. Think not? CONSIDER this. You had to be 65 years of age to retire and collect SS, but the average life span at the time? 59 years!!!!! The dim-0s intended that most would be dead after paying for decades, without ever drawing back anything.
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FDR was a socialist tyrant