Chart of the Century- Entitlements Will Consume All Tax Revenues by 2049

[Trajan]

Seems to me this, is the issue.

Defense which hit a low I believe of 290 Billion in 97 is amendable to reduction because it is not classified as a mandatory spend, aside from iraq & afghan., that spending was 560 Billion, with Iraq Afghan add 168 billion for this year.

That being said, even deducting all discretionary spending — defense, homeland security, education, welfare, all of it, we would still be deficit spending $300-400 billion a year via the mandatory entitlement spending.

You are not going to find 300-400 Billion ( in TODAYS estimates) of taxes without taxing everyone, hard, say 60k on up to and thru the millionaire class....

Like it or not; the middle class is where the money is, even stalwart progressive thinkers at the New Republic recognize that fact. Who's up for that?

hat tip- Hot Air.com

 

[LordBrownTrout]

Even if they mounted us side saddle and from behind, I think there's only about three trillion out there in private monies, that including everyone in the US. They'd never recoup all of their debt owed through our private monies.

 

[Trajan]

well, apparently tough nuts are hard to swallow

 

[Rozman]

Our problem as the left sees it is we just don't spend enough on entitlements...for example they want another extension of unemployment benefits given to people who have already collected for 99 weeks.

We just don't spend enough....the Democrat battle cry.

 

[dilloduck]

So the idea of borrowing more and more money forever will fail ?

 

[Sactowndog]

Seems to me this, is the issue.

Defense which hit a low I believe of 290 Billion in 97 is amendable to reduction because it is not classified as a mandatory spend, aside from iraq & afghan., that spending was 560 Billion, with Iraq Afghan add 168 billion for this year.

That being said, even deducting all discretionary spending — defense, homeland security, education, welfare, all of it, we would still be deficit spending $300-400 billion a year via the mandatory entitlement spending.

So Trajan-

Given that I agree with your chart, and it's a ticking time bomb, why would you not agree to minimal revenue increases to address this train wreck? Obama was willing to address Medicare which is the biggest chunck. And if Obama wants more revenue enhancements agree and trade them off with more cuts to entitlements.

My major issue with House Republicans is the revenue enhancements in the Gang of 6 plan were completely reasonable. They walked away from a deal to address Medicare because they threw a hissy fit over a modest revenue increase.

You are right it is a problem but House Republicans fucked up fixing it.

 

[kyzr]

This is the chart that the 2012 election will be fought over. The GOP will say to cut entitlements, and the dems raise taxes on the wealthy, close tax loop-holes, and end subsidies. The <<<<<spin>>>>> on this issue will be dizzying...

 

[Toro]

Gotta reform entitlements. The math doesn't work.

 

[Zander]

The only way out of the mess is entitlement reform and tax reform. We have bad choices, or catastrophic choices. No easy way exists. Sorry people, government is not your mommy.

 

[BoycottTheday]

At this rate does anyone really think there will be a USA 2049 to worry about?

 

[Mad Scientist]

Not to worry. Alan Greenspan said that we can pay off all our debts by just printing money.

No shit, he actually said that.

 

[BoycottTheday]

Well, im learning how to make fire with what i find lying around,

figure learning new skills cant hurt in todays world.

 

[Trajan]

Gotta reform entitlements. The math doesn't work.

The only way out of the mess is entitlement reform and tax reform. We have bad choices, or catastrophic choices. No easy way exists. Sorry people, government is not your mommy.

agreed, however, here is the 'problem'-

 

[Trajan]

Not to worry. Alan Greenspan said that we can pay off all our debts by just printing money.

No shit, he actually said that.

yea I heard that, its "true" ( disclaimers up the booty) but you'd think he'd be more circumspect and we had QE 1 & 2 and its uglier cousin 3 is just around the corner.

 

[Claudette]

If anyone tries to do address entitlements they get accused of "throwing grandma of the cliff." Or having grandma and grandpa eating cat food. Or they wanting to get rid of Medicare altogether.

Entitlements are the albatross around our necks and the Clowns in DC, both parties, are going to have to address the problem before it eats us alive.

I still say let people draw out exactly what they put into Medicare and SS then we'll just see how popular those programs are.

 

[Newby]

Gotta reform entitlements. The math doesn't work.

The only way out of the mess is entitlement reform and tax reform. We have bad choices, or catastrophic choices. No easy way exists. Sorry people, government is not your mommy.

agreed, however, here is the 'problem'-

That pretty much says it all. What do the dems want? 100%? All so they can have power over the people and the people are too damn stupid to see what they're doing.

 

[Trajan]

Gotta reform entitlements. The math doesn't work.

The only way out of the mess is entitlement reform and tax reform. We have bad choices, or catastrophic choices. No easy way exists. Sorry people, government is not your mommy.

agreed, however, here is the 'problem'-

That pretty much says it all. What do the dems want? 100%? All so they can have power over the people and the people are too damn stupid to see what they're doing.

hummmmm, Richard whats does the board say?


survey says; ..................yes!!!!!

 

[auditor0007]

Seems to me this, is the issue.

Defense which hit a low I believe of 290 Billion in 97 is amendable to reduction because it is not classified as a mandatory spend, aside from iraq & afghan., that spending was 560 Billion, with Iraq Afghan add 168 billion for this year.

That being said, even deducting all discretionary spending — defense, homeland security, education, welfare, all of it, we would still be deficit spending $300-400 billion a year via the mandatory entitlement spending.

You are not going to find 300-400 Billion ( in TODAYS estimates) of taxes without taxing everyone, hard, say 60k on up to and thru the millionaire class....

Like it or not; the middle class is where the money is, even stalwart progressive thinkers at the New Republic recognize that fact. Who's up for that?

hat tip- Hot Air.com

While SS show some increase in spending, it is manageable in a number of ways. However, Medicare and Medicaid are a mess and are unsustainable. There are a number of answers to resolve this long term liability. First is to raise the age at which people can become eligible for benefits. The second, and much more difficult thing, is to reduce the costs of healthcare across the board. And no, I don't have a set answer as to how we can accomplish that, but it is something we must address.

 

[hellofromwarsaw]

A. This a Pub depression EMERGENCY, not policy!!
B. You stupid graph assumes costs for health care will continue to go up like under BOOOOSH, but Obamacare is the first big step on getting our health costs. now DOUBLE anyone else's, UNDER CONTROL. Of course, under Pub THIEVES, you'd be right...Pub Dupes!!