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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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December 27, 2012

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A BIGGER CLIFF
By Richard Russell

Everybody’s worried about the fiscal cliff.  But there’s a much bigger cliff coming up, and it’s the ‘Entitlement Cliff.’  In the four years since Obama took office, entitlement participants have grown exponentially.  Medicaid has grown from 46 million to 56 million people.  Disability beneficiaries have grown from 7.5 million to 8.8 million people.  Food stamp recipients have grown from 32 million to 47 million.

On top of the above, about 40 million Americans age 65 or older on Social Security and Medicare are receiving benefits.  Add the numerous smaller entitlement programs to the total and the expenses are mind-boggling.  All together, half of the nation now receives entitlements.  On top of the massive entitlements programs, we have the interest on the Federal debt, which is currently $220 billion.

One danger will come from the “bond vigilantes.”  As they survey the nation’s entitlement situation, they are going to want higher interest payments on Treasuries.  This will sky-rocket the interest cost on the Federal debt, and push Uncle Sam into a compounding pressure on the U.S.’s credit rating.  The implications of these statistics are frightening.