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The Donkey’s Demise?
A recent report indicates that Social Security has prematurely begun to withdraw funds from the non-existent trust fund – read the US Treasury. The Medicare trust fund (part A) is already broke. Medicare Part B is not paying for itself – more drain. Medicaid is growing rapidly. Our current accounts are already out of balance by about $800 Billion a year before this added impact. The Donkey’s answer – add more entitlements such as “Obama Care” or payroll tax forgiveness or student loan forgiveness or mortgage loan adjustments or more federal intrusion into education or “bullet trains” in key battleground states! All of these accelerate the increase in the debt – now at something over $14 Trillion.
The Donkey seems to think that we can continue to run up debt as if there is no tomorrow. A proposed 4% increase in taxes on the rich is projected to solve every out of balance account – it will hardly pay for the Medicaid problem. Over 1 trillion in reductions in Medicare (includes the $500 Billion proposed by the super committee) has no basic in law nor have the implication on medical services to our senior population been discussed – it is just a large slush fund to use to virtually balance the budget and temporarily hide real shortfalls.
Why is the cry from the Donkey always for more resource transfer? We already do so to the tune of over $20K per poor person while half the population has no stake in the debt as they pay nothing toward it. Why is it not acceptable to review our social safety net to insure good business practices and efficient usage? It is business as usual despite credit rating reductions and the obvious consequence of ever increasing government largess as reflected in the Greek debt crisis. The Donkey is taking on all the characteristics of an ostrich.
These costs are not going to go away. Our kids will have to pay them or we will have to renege on promises made with consequences that may make the Greek riots seem like a tea party. When did the intelligent leadership of the Democratic Party stop thinking about the day after tomorrow so as to focus myopically on November 2012? At least when we did the old “ham sandwich” vote buying schemes of the past the offered goody was cheap and singular. Our promises today are catastrophically expensive and forever.
Do these leaders think that the American Public is unaware of what they are doing? Is the Tea Party not a warning? Do they believe that they already have a majority of the population signed up for continued largess as a majority pays almost nothing toward it? Just why should the rising middle class work hard for less and less as we move resources to the rich and the poor and reduce their opportunity. Do these learned folk really believe that the future lies in selectively spreading the pie and not in growing it? Will it not be necessary, if we are to continue our tradition of having each succeeding generation fare better than the previous, to grow that pie?
It is beginning to look to me that the trade in our next national election will be between accepting the economic inequities of our current society (see http://www2.ljworld.com/weblogs/loyal-opposition/2011/oct/28/elephant-graveyard/ ) or bankrupting the nation? If so, how did we get to such a ghastly choice?