The Audacity of Redistribution
Dave Carter ·
Feb 21, 2011 at 1:19pm
As hope and change drives the number of people on public assistance ever higher, it might be a good time to consider the fact that nearly two thirds of the federal budget consists of payments made to individuals. The chart below, which purports to come from the “Historical Tables” volume of the White House’s 2012 budget shows a disturbing trend. Maybe the new House majority can take this issue by the horns as well.
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Oct '10
Re: The Audacity of Redistribution
Dave, you never cease to amaze. Every day another depressing way to look at the mess we have created.
Re: The Audacity of Redistribution
I know, I know. But they tell me that identifying the problem is the first step.
Jul '10
Re: The Audacity of Redistribution
The Great Society destroyed the greatest nation in history.
Sep '10
Re: The Audacity of Redistribution
I thought the deficit was entirely created by the war in Iraq?
Feb '11
Re: The Audacity of Redistribution
To make it a little more depressing: This does not capture *indirect* payments to individuals via subsidies to the institutions for which they work and/or the purchasers of the products of those institutions--viz, ethanol, solar energy manufacturers and installers, etc etc. But the effect of increasing dependence on the government and on the political class is the same.
May '10
Re: The Audacity of Redistribution
Fittingly, the sidebar ad on the original article is for "FREE GOVT SUPPORTED PHONES. 250 FREE MONTHLY MINUTES."
May '10
Re: The Audacity of Redistribution
What combination of Dave's number and this number would our liberal friends legitimately allow us to call socialism?
Dec '10
Re: The Audacity of Redistribution
Come on, Dave, you're just pulling our legs; you must realize that that graph doesn't reflect the impact of the Boomers, as they move onto the Social Security/Medicare rolls.
The payments to individuals actually becomes all of and more of the entire federal revenue, with the Boomers. With the great addition of the interest upon what we have already spent, that we did not have, we are looking at more than 1.5 times our revenue, just in entitlements, plus just the interest on our existing debt.
We are not just $14.5 T in debt, now; we are easily $150 T in debt (really, much more) in unfunded payments due in Social Security, Medicare, and just the interest on the debt, projected out to the year 2030. That's only 19 years away and, in my opinion, an underestimate.
Sure glad my state is trying to find a way around our new governor turning down the high speed rail funding; California and New York, two already bankrupt states, are salivating at taking Florida's $2.4B share for this new boondoggle in Obama's $53B additional waste!
Dave, the House majority knows. They are fighting.
Jan '11
Re: The Audacity of Redistribution
http://www.whitehouse.gov/omb/budget/Historicals
Table 11.1 if you wish to be depressed in detail.
11.2 and 11.3 give more details, which can be even more depressing.