We Cannot Afford Anymore Entitlements. Kill the Health Care Bill
Our fiscal house is screwed. The United States federal monetary unfunded liabilities cannot be paid. Ever. In its current configuration we cannot afford the entitlements that are laid out for the American people. From Social Security. Medicare, Medicaid, federal pensions, military pensions…we are simply drowning in debt. And now Congress and the Administration wants to add another entitlement? Honestly I think they do want to destroy this country economically forcing us to start all over again and dismiss the greatest blueprint for any country in the history of the world: our Constitution.
Former Comptroller General David Walker told NPR yesterday:
“Within 12 years, without an increase in interest rates, the single-largest line item in the federal budget would be interest on the federal debt. “That means more than defense, more than Social Security, more than Medicare. And that’s, obviously, not acceptable.
“It’s OK to run a deficit in the short term, when you’re in a recession, when you face serious challenges dealing with housing and financial markets. It’s not the current deficit that I’m concerned about. It’s the structural deficit that will exist whether the economy’s growing, whether or not we’re at war, no matter what the circumstances are. The dangers are that we end up losing the confidence of our foreign lenders. They end up wanting to charge much higher interest rates. The dollar declines dramatically, and the effect on that on the budget, on the economy and on, frankly, Americans, the cost of credit and other things is not a positive sight…
“There’s absolutely no question that taxes are going to have to go up. When you look at the promises that have been made for Medicare — for example, $38 trillion underfunded, Social Security $7.7 trillion underfunded, plus military and civilian pensions and retiree health care — to make the numbers work, you have to restructure those programs, constrain spending and raise revenues.”
Related budget articles:
Will the US National Debt ,EXCEED $12.5 Trillion, by 4 July 2010? (hubdub.com)
Texas gov urges budget mandate in US Constitution (seattletimes.nwsource.com)
Jim on January 12th, 2010
Check my website for a link from a local radio talk show host Dori Monson in Seattle, it is very interesting how Obama pledges on 8 different occasions to make the health care negotiations open to the public (on C Span) and not behind closed doors. Wow that was then, what happened? Totally behind closed doors and only one party….now that’s really open!!!! It’s only about a sixth of our budget, not too important. Oh yeah and have you noticed how they are trying to take their time so they get it right (what is the big rush).