A Pending Disaster
In Just a Thought, March 9th, 2010
What do Social Security, Medicare and Obamacare have in common?
Recently the Speaker of the House implored her party to pass Obamacare even if it costs them their jobs. In her plea she held up Social Security and Medicare as examples of unpopular bills that have become popular.
She failed to say these programs are bankrupt. They represent a $34 trillion unfunded liability, the government has committed $34 trillion it cannot pay. If we add this healthcare monstrosity to the list, the unpayable debt we pass on to future generations becomes even more obscene.
General Douglas MacArthur, the Army commander in the Pacific in WWII, said 60 years ago, ”There can be no more monstrous an immorality than to pass on to our progeny an overwhelming burden of public debt extravagantly created to better our own conditions of life-with little thought to theirs.”
Imagine what he would say if he could see us now.
