Our country has reached, or is past, the tipping point in the economy now. In the White House Federal Budget projected for this year, the total income from all sources ($2.5 trillion), is about equal to the cost of all of the federally mandated programs such as Medicare, Medicaid, TARP, Social Security, and interest payments on the debt.
The cost of operating the federal government is an additional $1.3 trillion, and there is no income to cover this. The solution to keeping the government operating is to borrow more money, or print phony money, which creates inflation. Inflation in the next four years probably will be 100 percent, if not more. If that is the case, then every dollar you have now, or expect to receive will be worth 50 cents. This will destroy the poor, devastate the middle class, and even adversely affect the wealthy.
The only solution to the problem is to cut the unfunded entitlement programs, and that will never happen, as it would cause riots in the U.S. even larger than what we are seeing in Greece, and Spain. What is happening in those countries right now is quite possibly our future.
So whichever presidential candidate, and his associated party, wins the election, they will take the blame, for years to come, and rightly so.
John D. Mustard
IT’S IN THERE
Tucked away in his Affordable Care Act is the creation of IPAB, or Independent Payment Advisory Board.
This board is made up of unelected bureaucrats. The ACA puts your medical decisions in their hands. In April of this year, the president said that this board would decide what care is “unnecessary” for seniors.
Democrats are making the false claim that they will save Medicare. Yet ACA cuts future funding to Medicare of over $700 billion. The Obama health law is redistributing the wealth — taking money out of Medicare to create new entitlements. Seniors are being forced to sacrifice to pay for this.
Now we are reading in the New York Times that “we need death panels.” Steven Rattner, a former Obama advisor, claims that too many Medicare resources are wasted on the elderly. He goes on to say that healthcare systems, such as those in Canada, Australia and New Zealand, have systems for rationing care.
So, if you are a senior and in need of a medical procedure or pharmaceuticals, do you really want bureaucrats in Washington making the decision whether you get care or not?
To these strangers, you are only a number with a dollar sign by your name. Do we really want to value life in dollars and cents?
Be very careful when you vote.
PBS is a bargain. Yet, Mitt Romney has to very rudely take aim at Jim Lehrer with his precious few minutes of debate time and tell him to take a hike.
This poor behavior and lack of good judgment should seal Romney’s fate as a losing candidate.