Thursday, February 11, 2010

Entitlements Are Driving the U.S. to Financial Disaster

MEDICARE , SOCIAL SECURITY and  many other  entitlment programs ARE A  HUGE PART OF WHY THE COUNTRY IS GOING BROKE.

This system is unsustainable. People receiving benefits are getting more than they put in, and the government did not save or invest their contributions to grow the pot of money, but rather greedily and irresponsibly spent the funds on other "programs".

QUESTION:
-Exactly who is paying for the Medicare, Medicaid and Social Security benefits being paid out? Is it some mystical "free" phenomenon?

ANSWER:
-Borrowed money accruing as unsustainable debt to China and others
-High taxes, such as the highest corporate tax rate in industrialized nations
-Income, social security and Medicare taxes paid by those not yet in the plans and who will not have their contributions waiting for them when needed; in a snowballing deficit.

People may be happy with Medicare and think they are getting something for nothing but it's a fool's dream. There is no such thing as "free benefits".

The national debt, annual deficit budgets, taxes and broken health care system attest to the "no free lunch".

The fix is certainly not to expand the broken system as ObamaCare would do.

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