I don’t know about you, but when I was a child I didn’t receive an allowance. If we wanted money, we found ways to earn it and if we didn’t have the money, we didn’t get.
But there were other kids who did get an allowance and it was never enough. They always wanted more and they had no understanding why they couldn’t always have what they wanted and even more important, no understanding of where that money came from or what it took to get it.
That accurately describes all too many Americans today, most who should know better.
Don’t cut or reduce my …. Give me more, expand this and that. All this without regard to the larger economic picture or the dangerous levels of America’s large and growing debt. All this without concern for massive liabilities created at the expense of future generations. All this thinking only other people should be taxed more for what they “deserve.”
There are two basic elements to federal spending; discretionary and non-discretionary. Discretionary spending is subject to annual budget setting. Non-discretionary spending such on Social Security and Medicare once established run on automatic and costs increase automatically each year unless the law is changed. Most of federal spending is non-discretionary and that’s a problem and the area where Americans want MORE!
In 2017 the federal government spent nearly one-half a trillion dollars ($458,542,287,311.80) on interest payments. Those payments are increasing as the debt rises along with interest rates. That is a problem that cannot be ignored. It’s a lot of money that could be put to far better use.
All the American children who want a bigger “allowance” without regard to where is comes from are helping to destroy our Country. And politicians are eager to provide what is demanded to gain votes without consideration for debt. You did not pay for what you get or want more of😡 Given our growing debt you can almost say nobody paid for our allowance.
If you are collecting Social Security those payments are not coming from your taxes paid while working, they are coming from current taxes and interest paid to the Trust and in only sixteen years that will be gone. If you are receiving healthcare paid for by Medicare, the taxes you paid and the premium you pay now are not covering those costs, current taxes being paid and lots of general revenue are paying those bills even as the hospital trust is being depleted.
The truth is taxes are not high enough to pay for the benefits already promised let alone giving anyone more benefits.
The federal government can’t give anything unless it first takes or borrows and when it borrows it is merely taking from future generations. Before asking for more, Americans should ask how what they already have is going to be paid for. What a joke.
Questions about specific policies confirm these findings. The most recent Kaiser survey found that 50% of Americans want the government to increase spending for Social Security, while only 5% want cuts. The comparable figures for Medicare were 45% and 7%; for Medicaid, 38% and 12%. WSJ 2-14-18
Not surprisingly, surveys also register a steep decline in public concern about the federal budget deficit. In 2013, according to the January 2018 Pew study, 72% of Americans regarded deficit reduction as a top priority. By the beginning of this year the figure had fallen to 48%. WSJ 2-14-18