In response to:

Economic Chaos Ahead

Doc Freeman Wrote: May 24, 2012 10:32 AM
Just think if we abolished the Departments of Labor, Education, Transportation, Agriculture, Energy, Health and Human Services, Housing and Urban Development, Interior, and Federal Reserve. Then we could limit Congress to only six months and they would not get a pension since they would be considered part time help. All of these departments should be handled at the State level and they would do a better job. Another thing is that none of these departments are listed in our Constitution, so really they are all unconstitutional. We could get rid of debt in less than five years, get rid of crooked politians, have a balanced budget, and better military. One can dream can’t one?
Let's think about the kind of mess that we're in. Federal 2010 Medicare and Medicaid expenditures totaled $800 billion. The projected annual growth of both programs is about 7 percent. Social Security expenditures are more than $700 billion a year. According to the 2009 Social Security and Medicare trustees reports, by 2030, 49 percent of federal revenues will go for Social Security and Medicare payments. The unfunded liability of both programs is already $106 trillion.

But not to worry. The Congressional Budget Office estimates that it's possible to sustain today's level of federal spending and even achieve a balanced budget. All that...