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http://www.garynorth.com/public/11875.cfm
My critic is typical of Tea Party supporters above the age of 65. He wants his welfare, and he wants to soak the rich to make sure he gets paid. This is the second-largest welfare state program in history, after Medicare, and he thinks it is a wonderful thing. He thinks he has both a moral and legal claim on other people's money. He hates the welfare state . . . except that portion of it which subsidizes him with other people's money. He has tens of millions of welfare recipients on his side. This is why the costs will grow, the deficits will grow, and the Social Security system will eventually go belly-up, taking with it a generation of fools who do understand that government IOUs are not money, and political promises are not an insurance program.
Social Security, Medicare, and Medicaid are why the federal government is steadily going bankrupt. The disparity -- unfunded liabilities -- between what the politicians have promised the voters and what must be paid out is around $200 trillion in present value. This is why, at some point, younger voters are going to send Congressmen to Washington with this command: "Stiff the geezers!" That is exactly what Congress will do.
I say: "The sooner, the better."
And I'm one of the geezers.
My critic is typical of Tea Party supporters above the age of 65. He wants his welfare, and he wants to soak the rich to make sure he gets paid. This is the second-largest welfare state program in history, after Medicare, and he thinks it is a wonderful thing. He thinks he has both a moral and legal claim on other people's money. He hates the welfare state . . . except that portion of it which subsidizes him with other people's money. He has tens of millions of welfare recipients on his side. This is why the costs will grow, the deficits will grow, and the Social Security system will eventually go belly-up, taking with it a generation of fools who do understand that government IOUs are not money, and political promises are not an insurance program.
Social Security, Medicare, and Medicaid are why the federal government is steadily going bankrupt. The disparity -- unfunded liabilities -- between what the politicians have promised the voters and what must be paid out is around $200 trillion in present value. This is why, at some point, younger voters are going to send Congressmen to Washington with this command: "Stiff the geezers!" That is exactly what Congress will do.
I say: "The sooner, the better."
And I'm one of the geezers.
