Post Tagged with: "deficit"

Why Social Security Hurts Society and Isn’t Secure

Why Social Security Hurts Society and Isn’t Secure

In 2013, Social Security ran a $71 billion deficit. This means there have been four years of consecutive cash-flow deficits, which means that the inflow is less than the outflow. According to the 2014 annual report from the programs’ trustees, the combined 75-year unfunded obligation of the Social Security and Disability Insurance Trust Funds (referred to collectively as the OASDI Trust Fund) is $13.4 trillion.

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McConnell Pledges to Use Power of the Purse

McConnell Pledges to Use Power of the Purse

“It takes 60 votes to do a lot of things in the Senate, but there are some things we can do with 51 votes,” said Senator Mitch McConnell. If he is truly determined to use the power of the purse, McConnell should get busy in the December funding bill — before the 2016 presidential election cycle consumes the congressional cycle. Take as many bites at the apple as possible.

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Republicans Shouldn’t Acquiesce to Obama

Republicans Shouldn’t Acquiesce to Obama

The midterm elections are just a week away, and with most predicting a Republican sweep on November 4, House Majority Leader Rep. Kevin McCarthy is setting his sights on the 2015 governing agenda. But before a new Congress is sworn in, the government’s funding for FY 2015 is due to run out on December 11, and Politico’s Jake Sherman reports “[McCarthy] would like to use the lame-duck session to pass a long-term government-funding bill, so Washington can begin focusing on big-picture legislating, instead of just trying to keep government’s doors open.”

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On Course to Never Pay Off National Debt

On Course to Never Pay Off National Debt

We’re more likely to default on our national debt than to ever pay it off. The national debt has increased every single year since 1958 to its current level. Who really believes that trend will be reversed?

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Marxist ‘War on Poverty’ Wastes Trillions

Marxist ‘War on Poverty’ Wastes Trillions

Anyone who has been paying attention understands that the U.S. financial situation is beyond out of control. Not only are we over $17 trillion in debt, the latest figures show more than half of Americans are now on the take-via the federal government-from their fellow Americans, and a $22 trillion ‘war on poverty’ has done exactly zip to reduce poverty.

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Watch Out for the Fall Lame Duck Budget

Watch Out for the Fall Lame Duck Budget

Congressional Democrats want to kick the can into the post-election, lame duck period, so they can use another anticipated shutdown to their advantage to achieve their budget priorities without having to worry about voter backlash. Yet, Congressional Republicans would be foolish to accept such a deal. But if House Republicans fear a shutdown hurting their chances in November, expect them to get rolled in budget negotiations.

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Welfare State Encompasses 56% of Americans

Welfare State Encompasses 56% of Americans

Don’t think the government is ubiquitous? Consider the following data published by the U.S. Census Bureau. In 2012, 109.6 million Americans were on some form of means-tested welfare, including Medicaid, food stamps and public housing. Another 43.7 million were on Social Security, Medicare, unemployment, and other government programs.

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GOP Adding More to the Welfare Rolls?

GOP Adding More to the Welfare Rolls?

This is welfare reform? The way out of poverty? Have Paul Ryan and House Republicans given up on creating jobs? Do they accept the new normal of slow growth and therefore the necessity of an ever-expanding welfare state?

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Spending Goes Up But the Budget Doesn’t Balance

Spending Goes Up But the Budget Doesn’t Balance

The federal government released the good news that revenue collections have reached an all-time high with total receipts of $1.935 trillion from October 1, 2013 to the end of May. Yet, even with this unprecedented flow of cash into the nation’s Treasury, the October-May deficit is an astounding $436 billion with May’s deficit alone totaling almost $130 billion.

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Time to Shrink the Social Security Administration

Time to Shrink the Social Security Administration

The Social Security Administration was created in 1935 and oversees three huge unconstitutional programs that provide benefits to millions of Americans: Old-Age and Survivors Insurance (OASI), Disability Insurance (SSDI), and Supplemental Security Income (SSI). SSA consumes one-quarter of the us budget, spending $914 billion a year, around $7,600 for each U.S. household.

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