Bankrupting Our Economy

It’s not bad enough that our entitlement programs, which should have been axed long ago, are going bankrupt.  But now Hillary and the Democrats want to add one more entitlement program, Socialized Medicine. 

Communism here we come.

The trustees who oversee Social Security and Medicare issued new warnings yesterday that the two programs are becoming unaffordable but pushed back slightly their predictions of when the crunch will hit.

By 2017, Social Security will pay out more in benefits than it collects in taxes, the trustees said in their annual report. The program’s trust fund is projected to be exhausted by 2041, one year later than estimated last year.
   
Medicare, which serves more than 43 million elderly and disabled people, is in worse shape, with its hospital insurance trust fund projected to be insolvent by 2019, trustees said. But that also was one year later than last year’s forecast.

In both cases, the programs’ finances will strain under the weight of serving 78 million baby boomers who will begin retiring in the next few years.

"Without change, rising costs will drive government spending to unprecedented levels, consume nearly all projected federal revenues, and threaten America’s future prosperity," said Treasury Secretary Henry M. Paulson, who serves on the six-member panel of trustees.

Nevermind that the President has tried again and again to get this fixed, to allow people the choice to manage their OWN money, heaven forbid.  But he is consistently shot down.

It’s quote amazing actually.  We have the Sheryl Crows and the Al Gore’s telling us the debate is over, that the world is going to end in 10 years, well maybe 50 years, um…ok….maybe 100 years based on science that is pure junk.  There is NO consensus that humans cause global warming but here we have definite data, definite numbers, showing us that our economy CANNOT sustain itself with all these Socialist programs and what do the politicians do?

Shrug their shoulders. 

It’s not their problems you see, it’s their grandchilds problem.  Let someone else deal with it.

Social Security expenditures are expected to reach $594 billion this year. For Medicare, the figure is $438 billion.

1 trillion dollars….in ONE year.

This year, about 7 percent of federal income tax revenue goes toward paying Social Security and Medicare benefits. The figure is projected to climb to more than 10 percent by 2012, and 26 percent by 2020, said economist Thomas R. Saving, a trustee.

But lets add socialized medicine to the list of tax burdens….

Speaking in Iowa on Monday, Mrs. Clinton, now a Democratic candidate for president, did not candy-coat her intentions. “We’re going to have universal health care when I’m president,” she said. “There’s no doubt about that. We’re going to get it done.”

How to explain such a lead-pipe certainty? “I believe the American people are going to make this an issue,” Mrs. Clinton added. “I believe we’re in a better position today to do that than we were in ’93 and ’94 . . . It’s one of the reasons I’m running for president.”

Communism here we come…..

Just one more reason to ensure a Democrat does not get into the White House.