The Fundamental Problem With the American People

Here it is:

The fact that many of them expect government entitlements like Social Security, like Medicare, and don’t expect a corresponding tax increase to pay for them. They think that the money to pay for things can just be conjured out of thin air, and they’ll be all set because they expect the government to, quite literally, hand out the service to them (hence the term entitlement). This sense of entitlement is what is going to kill this country economically; we need someone high up in government to realize that Medicaid and Social Security are going to sink us with all the Baby Boomers retiring in the next 8 years or so. What happens when taxes aren’t raised enough so the government can pay for these programs? We borrow. And anyone who has watched the economy all over the world freeze over the past couple of months knows the effects of borrowing en masse.

More on this tomorrow.

  1. thebeadden

    I’ve not heard anything about Americans not expecting to pay for things like that without realizing they will have to pay for it somehow, through taxes or whatever.

    They already pay anyway.

    I might not be on as much for the next little while. But I’ll try to get on as often as I can. I like what I’m seeing here on your site, Leap.

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