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U.S. Can´t Avoid The Entitlement
Cliff By Raising Taxes

Investors Business Daily, by Staff

Original Article

Posted By:Desert Fox, 12/5/2012 10:06:19 PM

A new government report finds that the country is heading toward fiscal ruin, and the only way to avoid that is to make deep cuts in entitlement programs; tax hikes can´t fix the problem. In other words, what´s needed is the opposite of what the Obama administration and congressional Democrats propose as part of the fiscal cliff talks. The Government Accountability Office report found that, even using optimistic assumptions about spending, the government is "on an unsustainable long-term fiscal path" that will lead to debt exceeding the economy within a few decades.

      


Post Reply  

Reply 1 - Posted by: bamapreacher, 12/5/2012 10:17:45 PM     (No. 9050766)

So what entitlements are they going to end up cutting, the money that is wasted on giving the urban "poor" enough to buy Nikes and smart phones, Tommy Helfiger clothes and bling or the Social Security and Medicare money that people actually worked hard for? Knowing the leftist democ rats the answer is obvious, shared misery.

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Reply 2 - Posted by: Axeman, 12/5/2012 10:53:54 PM     (No. 9050796)

Unsustainable spending on unattainable goals.
They just wont say it.

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Reply 3 - Posted by: LanieLou, 12/5/2012 11:06:47 PM     (No. 9050808)

Someone please pull an Obama and go on morning, evening & Sunday shows and explain to the brainwashed peeps that Obama´s tax the rich plan doesn´t put a dent in the problem????? Show them a graph, for crikey sake!

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Reply 4 - Posted by: grounded, 12/5/2012 11:34:47 PM     (No. 9050830)

The REAL number of all the unfunded/underfunded obligations of the federal government is closer to 100 TRILLION DOLLARS. That´s trillion with a "T". That includes not just the so-called "entitlements", but also veterans´ benefits and government workers´ pensions and health plans.

The economy generates about 16 trillion bucks GDP annually or about 1/6 of the total. The whole world´s GDP was about 63 trillion bucks in 2010 per the world bank.

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Reply 5 - Posted by: veritas, 12/6/2012 12:38:47 AM     (No. 9050878)

Come on, IBD. You know Stinky´s said, flat out, higher rates aren´t about raising revenue, but about "fairness." And do we really need more evidence he has no interest whatsoever in working at the job?

Republicans have no business -- no business, period -- talking about or offering more revenue to Stinky the Usurper. Two numbers settle the issue of where the problem lies -- total spending under Bush versus total spending under Stinky. Spending is the problem. Spending. Obama´s spending.

Obamacare? A. No Constitutional authority. [Yeah, I know. But shame on us if we don´t keep bringing up his un-Constitutional actions.] B. No incorporation of tort reform. SS? Look at Chile. We´ve know for a decade, more, that they solved the problem. But the Dems would rather scare Gramma and Grampa than solve the problem for them. Medicare? Again, no authority, badly-designed, another Santa´s bag for vote-buying pols.

Well, at least we don´t have to waste a lot of time ferreting out cleverly-buried-and-disguised problems. Plenty of stuff Stevie Wonder could find on a dark night without even looking.

Hey -- could we hire Gallagher and send him to D.C. to start cleaning it up?

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