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Friendly reminder from GAO:
You’re about to hit the
entitlement iceberg, people

Hot Air, by Mary Katharine Ham

Original Article

Posted By:StormCnter, 12/5/2012 4:39:48 AM

While we meddle on the margins and stay safely ballparks away from anything that might actually tackle our deficit and debt problems: The Government Accountability Office warned in a report Monday that if cuts are not made to mandatory spending — including Social Security and Medicare — there will be a fundamental gap between spending and revenue as more baby boomers retire. “Significant actions to change the long-term fiscal path must be taken,” the GAO warned. Strangely, the Government Accountability Office does not headline this report

      


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Reply 1 - Posted by: Country Boy, 12/5/2012 5:11:26 AM     (No. 9049266)

The big lie is the an proposed "cuts" are just reductions in an increase. Meaning that if we could just freeze government, or better revert to 99% of last year, all the problems would go away.

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Reply 2 - Posted by: Spidey, 12/5/2012 5:17:03 AM     (No. 9049269)

Nobody cares about these long term entitlement problems. You can talk about $85 trillion in unfunded government liabilities till your blue in the face and nobody cares. They care about today ,next week and next month and nothing much beyond that.If Obama was concerned about these funding shortages,why does he keep wanting these unproductive SS tax cuts which are robbing the trust fund?

SS and medicare can be fixed with minor tweaks but to me the real looming problem is what it´s costing us to keep urban America running.

Why is the government taking over the entire healthcare industry when most of the uninsured will be dumped into medicaid anyway. They could have done this without seizing the whole industry.The reason is simple,it´ll lead to countless more government paper pushers having their union dues confiscated for the dems in office to run with.

Liberalism is a monstrous legal form of racketeering.These new bureaucratic positions will be filled with affirmative action types in a back door social justice scheme.At the same time the wealth creators will be punished by a whole variety of taxes rules and regulations.The government will be ran by armies of unqualified radicals which we´ll pay through the nose for.

The liberals will never cut spending on social programs because it could harm unionized gov´t workers.They´ll cut public safety people like cops and firemen long before they´ll lay off a useless paper pusher.

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Reply 3 - Posted by: Phil_hk, 12/5/2012 5:17:59 AM     (No. 9049271)

I haven´t had to pay Social Security since I left the US in 1997

What a good decision that was

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Reply 4 - Posted by: Sfacheem, 12/5/2012 6:37:07 AM     (No. 9049317)

...and the left will SUCCESSFULLY blame Republicans and Bush for ruining the economy and reducing the federal income tax revenues to the point where we can´t pay everything to the people that they deserve--so we´ll borrow more and print more.

You can see it coming, can´t you?

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Reply 5 - Posted by: sailannapolis, 12/5/2012 7:59:19 AM     (No. 9049424)

They (politicians) have stolen the money, over the years, that we were taxed to put into a retirement fund for old age. Now they say we have to cut? Cut gov. salaries first, food stamps, unemployment and White house spending before you cut something that the American tax payer paid from their hard earned dollars

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Reply 6 - Posted by: clayusmcret, 12/5/2012 8:57:08 AM     (No. 9049512)

RAMMING SPEED!!!!

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Reply 7 - Posted by: treecat, 12/5/2012 9:01:32 AM     (No. 9049520)


"Hot Air" - article was published by an appropriate named publication...

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Reply 8 - Posted by: mickturn, 12/5/2012 10:24:20 AM     (No. 9049713)

That is fine. Just send me the $794,000 that my/employers Social Security plus a meager 5% interest stacked up over 46 years of working and I´ll be fine with you cutting off my meager $2307/month.

By my calculations I will have to live to 94.68 years old to get all that is mine. This of course does not include my 5% interest on what hasn´t been paid yet...roughly add another 20 years...so if I live to 114.68 years of age I´ll break even. The Ponzi Scheme is alive and well in the Social Security System, Bernie Madoff and Ponzi himself would be PROUD!

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Reply 9 - Posted by: nonsense, 12/5/2012 10:29:49 AM     (No. 9049731)

The only thing I would add to #2, Spidey, is that the "rich" will leave the USA. The "makers" will take their skills to a welcoming country and we will be the poorer for it. Yet the Left will never admit that their economic and personal freedom grabbing behaviors caused any of the migration.

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