Contributed by: filbert Wednesday, March 16 2011 @ 10:25 AM CST
In less than fifteen years, these "entitlement" programs will consume all of the Federal Government's revenue. All of it. No more national defense, no more national parks, no more federal research grants, no more federal highway funds, no more air traffic control system, no more education grants, no more federally guaranteed loans or bank accounts, no more NPR, no more PBS. It will all be going to Social Security, Medicare, and Medicaid.
Here’s a stat for you: In President Obama’s proposed 2012 budget, the White House Office of Management and Budget estimates (in Table S-4) that mandatory spending this year (2011) will be $2.194 trillion, while total federal receipts will be $2.174 trillion.
Comment (0)