December 24, 2012
Re: '2012 Lie of the Year: Government is affordable'Topics:
So, just how mismanaged is our federal government?
... Right now, mandatory entitlement spending alone is 62% of the Federal budget, and it will rise continuously under present law. At the same time, federal revenues don't even cover the cost of those entitlements, plus interest payment on the national debt.As slack-jawing as this revelation is, the rest is even more shocking.
Think about that. We could eliminate the entire Federal Government except for entitlement spending and interest on the national debt, and we would still have to borrow money to pay for it.
Meanwhile, Barack Obama wants more stimulus spending, no real debt reduction, little to no steps toward entitlement reform, and economy-busting wealth redistribution from our job creators. And as for the GOP ... they're not much better ... being equally devoid of fiscal common sense and basic math skills.
In other words, being more like Greece as each day passes is starting to look like an improvement.
Posted by Richard at December 24, 2012 12:08 PM
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