eflatminor
Classical Liberal
- May 24, 2011
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LBJ's Great Society...that's when the entitlement spending really took off.
The two main goals of the Great Society social reforms were the elimination of poverty and racial injustice.
Clearly, we've tried HARD to fulfill LBJ's dream.
How's it worked out? Poverty been eliminated? Hint: The poverty rate is up about 2% since 1970...bummer. But hey, the Black man thriving, right?
At what point do we begin the think that maybe all this spending and entitlement is doing more harm than good?
*Entitlement Spending Chart United States 1970-2011 - Federal State Local Data
The two main goals of the Great Society social reforms were the elimination of poverty and racial injustice.
- Today, we're spending in excess of a $1.5 trillion dollars a year on LBJ's vision*
- We now have over 150 million households getting handouts
- Since 1970, means-tested entitlements have increased by 5,500%, while the regular rate of inflation during that period was 4%
- Wars and defense contribute a ton to our $16 trillion debt but entitlements contribute even more
Clearly, we've tried HARD to fulfill LBJ's dream.
How's it worked out? Poverty been eliminated? Hint: The poverty rate is up about 2% since 1970...bummer. But hey, the Black man thriving, right?
At what point do we begin the think that maybe all this spending and entitlement is doing more harm than good?
*Entitlement Spending Chart United States 1970-2011 - Federal State Local Data