That's true - there is a lot of mismanagement in that category too. But we did not borrow money to finance our social investments. The Social Security program has an independent budget that is separate from the rest of the federal government. When the Social Security program collects more in taxes than it spends, it generates surplus money. By law, the only thing that the Social Security program can do with surplus money is to loan it to the U.S. government.
When the Social Security program loans money to the U.S. government, the government is obligated by law to pay this money back to the Social Security program with interest. This money becomes a part of the national debt.
If you have any doubts that social spending isn't being borrowed from China, Japan,etc....look at this.
This chart shows the trends of total federal spending as a share of the economy (measured by national income) over the past 50 years, with the total broken down into 4 components: Defense, Social (sum social security, Medicare, Medicaid/health, welfare income) and net Debt Interest, and Other (meaning all items not covered in the first 3 components, which is balance of spending, incl. such items as Dept. of Energy, IRS, State Dept., etc.).
The declining black trend line is the defense spending ratio, which is now at 5% of the economy, well below its 1947 level - following a 4-decade downward slope.
AND, the BIG CULPRIT (rising red line) is rapidly rising Social spending, growing 14 times faster than the economy, more than eating up the decline in defense ratios (and has now reached a historic new high). (If it had been growing in dollar terms only at the rate of growth of the total economy, then that red line would have been flat on the chart. The fact the red line rises means said spending was growing much, much faster than the economy.)
Look closely at that red line on social spending. Note 3 points: (1)the acceleration starting mid-1960s, (2) this stopped rising (and declined) in the 1980s for the first time in 4 decades, (3)only to rise again thereafter to a record high in the 1990s.]
This chart almost looks as if increased spending on defense in the mid-1950's was a cover for the beginning of a socialization expansion never seen before in history. At the very least, social spending ratios were expanded 'under cover' of declining defense ratios. Social engineers certainly knew what they were doing - finding a way to camouflage their agenda. Since defense has declined to its post WW II ratios, the 'chickens are coming home to roost' - because defense reductions will no longer camouflage social spending, as occurred during the past 4-decades.
Interest (blue line) takes up an added 2% of the economy. But, it can only decline if the debt principal causing the interest is paid-down. However, debt principal is rising.
Grandfather Federal Government Debt Report - page 1 - by MWHodges
But you don't even know what the plans each candidate is proposing....Don't tell me you vote strictly by party?
