Even as a bloodbath looms in the November distance, the Obama administration continues to push healthcare because they know that Americans love their entitlements like winos love wine. They are betting the farm that once that fiery warmth begins running through the National body we will not only love national health care, but will fight to defend it. We will also be too glassy eyed to notice that we have suddenly signed away our liberty, becoming slaves to those that serve us. But I digress.
Like wine, entitlements cost money. Sadly the more addicted we become the less money we have to spend on more important and often essential things. The wino lacks food, housing and clothing; the entitlement addict lacks employment, savings and luxury.
Consider that today our national debt stands at roughly $12 trillion or roughly 70% of our gross domestic product or GDP. But wait. We have promised today’s workers Social Security and Medicare benefits totaling another $41 trillion. Toss in another trillion for miscellaneous expenses, and suddenly our debt skyrockets to $54 trillion. In layman’s terms it means in order to pay our future obligations we would need $54 trillion dollars invested today. How much of that money does this nation have sitting around? Zip! Zero! Zilch!
The next politician that proposes to solve this problem by cutting waste should be laughed out of office. The truth is that the result of our addiction is so severe that we could end ear marks, allow the Bush tax-cuts to expire and end the war in Iraq and still be some distance from solving this nation’s fiscal crisis.
How serious is it? At the rate we are spending entitlement expenditures will represent a full ¾ of our federal budget by the year 2030. A decade later – when today’s college students begin to retire—our debt will have risen to 244% of GDP. This nation will be so broke that we will only be able to service our public debt and pay out some social security and Medicare benefits. All other parts of the government will be shut down.
What does the wino do when he has consumed all his wine? He begs others for theirs. Rather than a world leader-- we will be a nation at the behest of others. Rather than a strong and secure people-- we will be a nation, to paraphrase the bard, whose hearts will shake at every feeble rumor and whose enemies, with the nodding of their plumes will fan us into despair.
Clearly something must be done. I mean besides immediately instituting government health care.