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Posted 2008-03-10, 11:03 PM
in reply to !King_Amazon!'s post starting "I agree. However, there's a difference..."
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Quote:
Federal spending grew to $20,705 per household in 2004—the highest level since World War II and an increase of $3,000 per household over the average spending during the 1990s. After passage of the omnibus spending bill, discretionary spending was projected to increase 8.7 percent in 2005.[1]
This is worrisome enough, but it pales in comparison to the fiscal nightmare of the Medicare prescription drug benefit, which increased the government's unfunded obligations by $8.1 trillion over the next 75 years.[2]
Today's taxpayers are paying the cost of entitlement obligations entered into by lawmakers many years ago. Total "mandatory" spending now constitutes 54.3 percent of total federal spending.[3] Most of this spending is devoted to entitlement programs such as Medicare and Social Security, which already consume 6.8 percent of gross domestic product (GDP)—8.2 percent when net interest is included— and will require far more resources in the future.[4]
By 2050, spending for Social Security and Medicare is expected to increase sharply to nearly 25 percent of federal spending as baby boomers begin to retire, and total federal spending could consume nearly one-third of the national economy.[5] As David Walker, Comptroller General of the United States, has noted:
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http://www.heritage.org/Research/Budget/bg1818.cfm
Fuck the military budget. We won't have shit if welfare spending doesn't halt.
These numbers will dwarf any military spending you could imagine.
 
"When the people find that they can vote themselves money, that will herald the end of the republic."- Benjamin Franklin |
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