The U.S. government is about to exceed its statutory debt limit of $14.3 trillion. But that actually underestimates the size of the fiscal time bomb that this country is facing. If one considers the unfunded liabilities of programs such as Medicare and Social Security, the true national debt could run as high as $119.5 trillion [are you awake now? FYI that is over $360,000 hanging over the head of every man, woman, and child in America].
Moreover, to focus solely on debt is to treat a symptom rather than the underlying disease. We face a debt crisis not because taxes are too low but because government is too big. If there is no change to current policies, by 2050 federal government spending will exceed 42 percent of GDP.
Adding in state and local spending, government at all levels will consume nearly 60 percent of everything produced in this country. Whether financed through debt or taxes, government that large would be a crushing burden to our economy and our liberties.
Driving this massive increase in the size and cost of government are so-called “entitlement programs,” in particular Social Security, Medicare, and Medicaid. Indeed, by 2050, those three programs alone will consume 18.4 percent of GDP. If one assumes that revenues return to and stay at their traditional 18 percent of GDP, then those three programs alone will consume all federal revenues. Therefore any serious attempt to balance the federal budget and reduce our growing national debt must include a plan to reform entitlements.
It may well be politically convenient to continue ducking entitlement reform. But doing so will condemn our children and our grandchildren to a world of mounting debt and higher taxes [all emphasis is mine].
The 36 page report is clearly too lengthy for this medium but a few pages further on a couple of charts are posted that are instructive.
The charts are, I think, emphatically expose the lies of the left. The amount dedicated for military would not begin to dig us out of the hole we are in. Indeed, in this world in which we live we probably need to expand military expenditures and most certainly need to better direct military spending. The second chart shows how problematic entitlements and “discretionary” spending (read earmarks) has become.
All of this is just illustrative to make the point that our job is NOT done. We must continue to fight and fund “regional” conservative campaigns and candidates and clean out ALL of the leaven, all of the career politicians. Two examples come to mind.
The first is Reid from Nevada who defeated Angle. Reid desperately needed to be dumped. The lesson is that we need to finish clearing the government of Democrats–all are advocates of bigger and bigger government–all are anti-Constitutional–all are globalists. None can any longer be afforded by America.
The second example is John Boehner. He is part of the career, ol’ guard Republicans whom, quite frankly, we can no longer afford. The left has incrementally “boiled their frog” and the GOP has helped them turn the heat up. The frog is us and we are about cooked. We can no longer use compromise to get where we need to be. Conservatives, tea-partiers, whatever name you like, that get elected need to draw a line in the sand and not budge.
The Democrats in government have proven by their own actions they are not our friends anymore than the Taliban is. That is not an ad hominen attack, that is simply fact.
It goes without saying Obama must go. By hook or by crook, but–BUT we must get a real conservative into the Oval Office.
Trump is not our trump; we must run from Romney who did the same thing to health-care as governor of Mass. that Obama is trying to do to us; Guiliani is a joke as president; Gingrich is too much a part of the “good side” of the ol’ guard Republicans; Jeb Bush–we definitely do not need anymore Bushes, G. and G. W. are both partly responsible for where we are at (don’t even get started on Dubya).
That is just a few from my “you gotta be kidding” (or brain-dead) department. As a Christian, as well as a conservative constitutionalist, I would say we must PRAY.
We know God is ultimately in control. So if this is part His beginning of the end, then I say Bring it on.