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US entitlement programs are unsustainable February 28, 2011

Posted by Tantumblogo in Admin, Basics, disaster, General Catholic, scandals, sickness, Society.
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You can zero out defense, and everything else, and we’re still running a deficit.  Without controlling federal entitlement programs, this country will never economically recover:

And the deficit will grow horribly worse, year after year, as the boomers retire in greater numbers and the social security obligation explodes.  This is just the beginning.

This is where Catholic social doctrine, at least as interpreted by the USCCB, runs into problems – there isn’t enough money to pay for the promised entitlements.  Even with a massive tax increase, revenues would not greatly increase, as higher tax rates just lead to more income sheltering and depressed economic performance, which keep the coffers from filling as the left likes to fantasize imagine.  In fact, it has been shown that lower tax rates actually lead to more economic growth and higher tax receipts.  However, that is in normal economic times – with so much of the available money being floated as federal debt, that tends to dry up resources for private investment and puts a lid on how much growth can occur.  That is basically what occurs in stagflation – massive federal debt, which the government tries to reduce by printing money, leads to inflation, and also to stagnant growth, or depression, because so much money is being swallowed by the government.

Without a major turnaround, the best we can hope for is a replay of the 70s.  The worst is something alot worse than the 1930s.  And left wing policies make it worse.  The longer we put off addressing horribly underfunded entitlements, the worse the suffering will be.  Not enough children were born 1970 – today to provide enough workers to provide the economic activity to afford the promised benefits.

Comments

1. Mary - February 28, 2011

IS IT more catholic – to give everyone ‘free’ entitlements and put the entire nation in turmoil, or ask everyone to step up, work hard, take less, which has proven in the past to help the nation to grow.
While the bishop and those giving may be providing (in a round-about way), it’s causing those receiving to grow more dependent upon others, thus not living as the bible tells us all to do (it’s difficult to provide for others when your hand is outstretched waiting for handouts).

I understand that the bible says we shall take care of the poor, etc, but it doesn’t say we should tell GOVERNMENT to take care of the poor.

It says each of us should take care of our neighbor – each person we come in contact with.

I have a real problem with the USCCB and their tactics in ‘caring for the poor’. The more middle-men we have, the less efficient the system is.

When will this end???

2. maizie - March 2, 2011

As Christians, we should see economy through our “scriptural eyeglasses”.
For instance, God prepared His people for the coming famine but through Joseph being sold into slavery and then raising him up from a prisoner to second in command of all of the food crops of Egypt. Not only did this bring about the sustaining of God’s own nation but inspires us even today to keep our eyes upon God’s face and remember from whom our help comes.


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