The Entitlement State that Nobody Mentioned | Richard M. Ebeling   Leave a comment

The Republican and Democrat Party Conventions are now behind us. But through all the cheers and jeers, hoopla and poopla, warnings of a dark and dangerous future or promises of a bright and beautiful shape-of-things-to-come, one of the most serious shadows hanging over America was hardly mentioned at all: the unsustainability of the “entitlement” programs of the welfare state.

In fact, Clinton and the Democrats have proposed to both maintain and expand the redistributive state, and Trump has expressed his intention of not challenging Social Security or Medicare.

Growing Government Debt as Far as the Eye Can See

In July 2016, the Congressional Budget Office (CBO) issued its“2016 Long-Term Budget Outlook.” Looking over the next 30 years from 2016 to 2046, the CBO estimates that the federal government’s debt held by the public will increase from its current level of equal to 75 percent of Gross Domestic Product (GDP) to 141 percent of GDP in 30-years time. The national debt will be far above its previous high of 106 percent of GDP shortly after the end of the Second World War in 1945.

Source: The Entitlement State that Nobody Mentioned | Richard M. Ebeling


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