I took my title from a WSJ editorial of the same name.
The column included this graph:
Naturally, the Wall Street Journal blames Obama for making things worse; how big a help is that? The ending upward blip is due to recession caused bailouts and stimulus, which were supported by Bush and Obama but Congress enacted.
The graph shows us the real problem. For every dollar America collects from taxpayers, it hands out $0.65 to individuals! That is dumb enough but big problem number one is the trend – and look at the trend during those Democrat touted, “balanced budget”, Clinton 90s.
Big problem number two is that tax revenue will be down to 14% of GDP in 2011 from a traditional 18% of GDP – we’ve been moving money from defense to entitlements and borrowing the shortfall. Let’s see, if we spend a lot more and earn a lot less, how will that end?
All this would be bad enough but now we have hoards of old fools demanding no decrease in entitlement spending and no increase in taxes. What are we thinking?
Apparently we’re against killing off grandma because we’re going to need the food.
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