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Within 30 Years, 100 Percent of the US Deficit Will Be Medicare and Social Security

In 1965 mandatory spending was 34 percent of the budget. In 2022 it was 71 percent of the budget.
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Mandatory Spending Discretionary

'If You Really Want To Understand How Much Trouble We're In, Give Me A Few Minutes Of Your Time' says Rep. David Schweikert (R-AZ).

Ten Key Quotes

  1. If You Really Want To Understand How Much Trouble We're In, Give Me A Few Minutes Of Your Time.
  2. Your government is just an insurance company with an army
  3. In the next 30 years, 100 percent of the deficit is Medicare and Social Security.
  4. The shortfall in Medicare is about 75% of all of our borrowing.
  5. In ten years, unless we fix Social Security, you are going to double the poverty of senior citizens.
  6. These are the things we are here to fix instead of the trite crap we come behind these microphones and talk about.
  7. Medicare for all is a financing bill. None of those health care bills change what we pay. They just move around who pays.
  8. Until the conversation changes about "what we pay" you can't save us.
  9. Is this body ready to tell the truth about the math? Because the math will always win.
  10. We're not telling the truth about the fragility of interest rates. Every dime is covering interest.

What Is Causing the Budget Deficit?

What Is Causing the Budget Deficit

Interest on Debt

Under Current law, CBO projects 50%

It's a sobering video. Please give it a look.

Regarding point five, "In ten years, unless we fix Social Security, you are going to double the poverty of senior citizens," expect massive tax increases or far more free money proposals that will drive up inflation rather than reduced payments.

What About Climate Change?

David Schweikert's rant did not even cover the climate change debate. 

Biden, AOC, Warren and others want to spend tens of trillions of dollars on climate change boondoggles.

Who's supposed to pay for that? Taxing the wealthy won't even begin to cover what Democrats have in mind.

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"The state of the union is coming up. The president's got to, and you know I think will, because he believes this, we gotta move this. Because that's the only way we can keep 1.5 degrees alive."

"So how do we get there? The lesson I've learned in last years, and I've learned it as secretary and leaned it since reinforced in spades, is money. money, money, money, money, money, money."

Inflation Madness

For discussion of inflation, please see 

View From Wonderland

Alice Wonderland Recession Debate

I also cover inflation in Alice Debates the Mad Hatter and the Red Queen on Timing the Recession

This post originated at MishTalk.Com

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