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Entitlement reform is a hoax

By tovarichpeter   2013 Jan 7, 1:57pm   461 views   4 comments   watch (0)   quote

It has become accepted economic wisdom, uttered with deadpan certainty by policy pundits and budget scolds on both sides of the aisle, that the only way to get control over America's looming deficits is to "reform entitlements." But the accepted wisdom is wrong.

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1   elliemae     2013 Jan 7, 10:10pm  ↑ like   ↓ dislike (2)   quote    


2   Dan8267   2634/2667 = 98% civil   2013 Jan 8, 12:16am  ↑ like (2)   ↓ dislike (1)   quote    

And Census data showing 49 percent of Americans living in homes where at least one person is collecting a federal benefit -- food stamps, unemployment insurance, worker's compensation, or subsidized housing -- up from 44 percent in 2008.

But these expenditures aren't driving the federal budget deficit in future years. They're temporary. The reason for the spike is Americans got clobbered in 2008 with the worst economic catastrophe since the Great Depression. They and their families have needed whatever helping hands they could get.

So true. The Second Great Depression started in 2006 (seven years ago) and is still going on. You'll know it's over when 50% or more of the people are no longer dependent on federal assistance or in dire need because their federal assistance ran out.

Seven years ago, we were yelling at government to let housing prices fall fast. If the government hadn't propped up housing prices and kept the responsible from buying affordable housing and all the things you buy after you buy a house, the Second Great Depression would never have happened. We would have had a single year of recessions before a recovery as bad debt was realized instead of the past seven years of a depressed economy. And it's not even over yet.

Can we get those damn politicians to at least admit that they made a mistake by propping up housing prices? Is that too damn much to ask?

3   Dan8267   2634/2667 = 98% civil   2013 Jan 8, 12:17am  ↑ like (2)   ↓ dislike (1)   quote    

Military contracts are the biggest damn entitlement anyway.

4   lostand confused   225/225 = 100% civil   2013 Jan 8, 12:25am  ↑ like (1)   ↓ dislike   quote    

Dan8267 says

Can we get those damn politicians to at least admit that they made a mistake
by propping up housing prices? Is that too damn much to ask?

A politician admitting he made a mistake? Now why would he/she do that, when he can get away with blaming the other guy and their followers lap it up?

Dems: The repubs in congress and senate are obstructionists and if only they co-operated, everyone would be wealthy, happy and singing kumbayah around the campfire.

Repubs: The Kenyan, socialist, communist, Islamist, Jihadist, community organizer, affirmative action winner wants to take all our rights away. We are fighting the good fight and the only thing standing between us and total conversion to a BORG subspecies of communists is the repubs.

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