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The One Chart You Need to See...(Entitlement Programs)
Rush Limbaugh Show ^ | March 1, 2011 | Rush Limbaugh

Posted on 03/05/2011 6:41:53 AM PST by Son House

RUSH: We're gonna have to put this chart up at RushLimbaugh.com. It's from Business Insider, Henry Blodget.

"Here's The Only Chart You Need To See To Understand Why The US Is Screwed." You've seen the chart, Snerdley? This all from Saturday. "We're still working our way through Kleiner Perkins' partner Mary Meeker's excellent analysis of the financial condition of the United States. We'll be breaking out some key sections in the next few days. In the meantime, here's the one chart you need to see to understand why the US is screwed.

This is the 'income statement' of the United States in 2010. 'Revenue' is on the left. 'Expenses' are on the right. Note a few things... First, 'Revenue' is tiny relative to 'Expenses.'

Second, most of the expense is entitlement programs, not defense, education, or any of the other line items that most budget crusaders normally howl about. Third, as horrifying as these charts are, they don't even show the trends of these two pies: The 'expense' pie is growing like gangbusters, driven by the explosive growth of the entitlement programs that no one in government even has the balls to talk about. 'Revenue' is barely growing at all."

And what is obvious as well when you look at this is that there's no way to solely grow our way out of this. There's gonna have to be major spending cuts in entitlements.

So what I'm gonna do here, folks, I just turned the Dittocam off while I zoom in. I'm not gonna go through the process of having you watch me zoom in. But I'm gonna zoom in on this. All right. If you're watching on the Dittocam, here we go. As you're looking at this, the chart on the right is expenses.

The pie on the right is expenses. The pie on the left is income. Now, look at that pie on the right with the blue, orange, and red slices. Those are the entitlements: Medicare, Medicaid, Social Security. Expenses. The others are defense, education, a bunch of other stuff thrown in there.

The point being made is that the big pie is continuing to grow. These expenses are continuing to grow, grow, grow. The income on the left, pretty soon the comparison's gonna be the size of the earth to the moon, as it keeps going.

And they're right. You see this and it's all you need to see to illustrate the problem that we have and to be able to recognize that growth alone is not gonna equalize these two pies in size. It's going to require spending cuts.

Now, on the big pie, of those three, the blue, the orange, and the red, Social Security's 20%, Medicare is 22%, Medicaid, 22%, unemployment compensation, 16%. Social Security is 20%. Twenty-two percent is Medicare and Medicaid.

Unemployment compensation is -- this is striking -- three-fourths as big as Social Security. The amount of money we are paying people not to work as an entitlement on this chart, looked at as an entitlement, is three-fourths the size of Social Security. (interruption) Just like what? Just like Europe.

Just like Europe. On the income side, individual income tax rates are 41% of all income. Social Security tax, FICA, is 40%. Corporate income tax is 9%. There's 10% other varied sources of income.

So we'll link to that chart, and you'll be able to see it at RushLimbaugh.com.


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: chart; entitlements; one; rushlive; see
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there's no way to solely grow our way out of this

You mean the Government can spend and invest economic growth like we being told told?

Senator Klobuchar on the Stimulus bill;
http://www.youtube.com/watch?v=goTYOjh2q9M&feature=related
As Van Jones has said, who is a guy who has written a book about the green collar economy, when you think about the green economy, don't think about Buck Rogers; think about joe six-pack putting on a green hard hat. Think about Rosie the riveter manufacturing solar panels and wind turbines. This is President Obama's plan -- jobs, jobs, jobs.

1 posted on 03/05/2011 6:41:59 AM PST by Son House
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To: Son House
The chart
http://www.businessinsider.com/usa-inc-2010-income-statement
2 posted on 03/05/2011 6:43:16 AM PST by Son House (Finally, people lie because they feel if they tell the truth they won’t get what they want.)
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To: Son House

Too many people on the dole. The cart is getting too heavy to pull.


3 posted on 03/05/2011 6:43:56 AM PST by petercooper (Purge the RINO's.)
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To: petercooper

Purge the “not-disabled” disabled first.

People break their pinky and get SSDI for life. Most of the people getting SSI/SSDI could do SOME sort of sedentary job even if not what they did before, and probably still get as much money as they do on SSDI, assuming the jobs were out there in the first place.

I’m not smacking on the truly fully disabled people, just the ones that might have a moderate issue that means they can’t move around well, but could still handle a sedentary job or something.


4 posted on 03/05/2011 6:48:01 AM PST by RockinRight (I once had my identity stolen. Once they got to know me, they gave it back right away.)
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To: Son House

Note the (much smaller) pie chart on the left is made up almost exclusively of funds that are taken out of OUR suffering hides! And we’re tapped out on taxes, so there is nothing else they can take from us, try though they will.

Gee ... how did the United States government EVER have enough money to function before the 16th Amendment?


5 posted on 03/05/2011 6:49:36 AM PST by DNME (With the sound of distant drums ... something wicked this way comes.)
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To: DNME

Sorry ... forgot the “/sarc”


6 posted on 03/05/2011 6:50:32 AM PST by DNME (With the sound of distant drums ... something wicked this way comes.)
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To: Son House

7 posted on 03/05/2011 7:02:04 AM PST by SeeSharp
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To: Son House

Wow...the comments at the link. They drip with stupidity. At least the first few I read before I had to slam my head against the wall.


8 posted on 03/05/2011 7:05:33 AM PST by tsmith130
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To: DNME
Gee ... how did the United States government EVER have enough money to function before the 16th Amendment?

Government was small and businesses were freer to act. Freedom Works. This mess clearly does not.

9 posted on 03/05/2011 7:09:45 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: SeeSharp

These pictures say nothing about the massive entitlements of the illegals in this country and the non-working parasites.

Politicians are afraid to cut those entitlement because they are afraid of riots.

Clearly the target here is social security and medicare. Old folks don’t riot.


10 posted on 03/05/2011 7:16:41 AM PST by ladyjane
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To: RockinRight

Yep, I’ve seen some disable get along better than the ones that claim to be disable.


11 posted on 03/05/2011 7:17:11 AM PST by Son House (Finally, people lie because they feel if they tell the truth they won’t get what they want.)
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To: Son House
Our elected representatives’ and the Federal bureaucratic solution is at the below link.

http://www.usatoday.com/news/nation/census/2008-04-28-onebillion_N.htm

12 posted on 03/05/2011 7:22:12 AM PST by mo ("If you understand, no explanation is needed; if you do not, no explanation is possible")
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To: Son House

I’d like to see at least a 20% cut of all spending across the board—entitlement payments included.

That will cause pain—me included—but nothing like the pain that would result from America going into default or (maybe worse) paying off the debt with funny money.


13 posted on 03/05/2011 7:26:17 AM PST by Scanian
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To: ladyjane
"Old folks don’t riot."

I don't know. Try telling that to Dan Rostinkowski.

14 posted on 03/05/2011 7:28:32 AM PST by SeeSharp
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To: Son House

This is NOT an accident!
This is Obama’s PLAN!

He want’s to screw the job creators, and limit the resources available to expand.
He wants to INCREASE THE COST OF BUSINESS through:
- Higher energy prices,
- Higher healthcare costs,
- Higher taxes,
- Increased regulatory restrictions!

Using the above tactics to shut down American business and industry results in more people DEPENDENT ON THE GOVERNMENT!

This is the destruction of capitalism and the American way of life!

In 2007 under the full force of the Bush tax cuts, the Federal Government had the highest level of tax receipts in history.
Lower taxes encourages business expansion and more employment, resulting in more people PAYING taxes and FEWER people needing “entitlements”.

THAT is the America I want!


15 posted on 03/05/2011 7:28:40 AM PST by G Larry
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To: SeeSharp

The math is simple. If we pay Social Security, Medicare/Medicaid, Unemployment & Other Entitlements, and Net Interest of the existing debt, [and cut defense and discretionary spending by 98% from existing levels, from $1277B to $20B] we can almost eliminate our annual deficit!

Our choices are: (1) cut entitlements seriously, or (2) pass the problem on to our kids when it’s even worse. Personally, I think we need to start moving the Social Security retirement age out toward 70, at least for those under age 55 (50?), just so the problem doesn’t snowball even more two decades from now, but also so we aren’t changing the rules on those close to retirement. I also think we need to tighten up Medicare/Medicaid eligibility and what is covered under those programs. We simply can’t afford a government that plays Santa Clause. Unemployment Insurance needs to be cut back - we can’t afford to pay people to stay home as they look for the perfect job at their old level of pay. It won’t be popular, but our choice is to do the right thing in each of these areas of leave our children with a crippling debt (or both if we don’t act imediately).


16 posted on 03/05/2011 7:30:46 AM PST by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
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To: tsmith130

“Wow...the comments at the link. They drip with stupidity. At least the first few I read before I had to slam my head against the wall.”

The comments seem reasonably split between the trust fund delusional believers and realists. The delusional believers insist that SS (and other entitlements) are not part of the budget problem. With this mentality, there is little hope to avoid a dollar meltdown. Even a dollar meltdown will not convince this group about explosive government spending. They will continue to blame the rich and corporations.


17 posted on 03/05/2011 7:36:15 AM PST by businessprofessor
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To: ladyjane

“old folks don’t riot”....I know a lot of us “old folks” that are ripe to riot and still in darn good shape to do so...we are fed up with our government and it’s mishandling of our assets but those of us that are receiving social security benefits and medicare...which we were MADE to contribute to...being blamed for the woes of the misguidance from that bunch of fools in D.C. The chart shows that Social Security Income is more than spent on Social Security “outcome”....but those dumb dumbs in Washington have pilfered the money and put it elsewhere.


18 posted on 03/05/2011 7:47:45 AM PST by imfrmdixie (I don't believe in a government that protects us from ourselves. Ronald Reagan)
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To: imfrmdixie

and, in addition, I totally agree that Social Security needs to be overhauled BUT doesn’t need to involve those already on it. (It’s too late to set up any other retirement for them). All one has to do is look at Medicare and see how socialized medicine is a failure.

I have read so many remarks about how “we old people” do not want to give up our Medicare....well, we were forced to get it and were told it would not cost us and we would be able to get care anywhere...thanks President Johnson where ever you are...now look at it. Medicare doesn’t cover much of anything. Most doctors are not taking it without some type of supplement or a replacement for it like an advantage policy...it doesn’t cover but a drop of the cost of your care...the deductables have to be met and the one for going in the hospital is almost $1200 now. If you can’t afford to pay for a supplement (which is expensive on fixed incomes) you are just up a creek.

My friends who have to pay for their Medicare and are on a minimum wage pay about $100 a month for the Medicare PLUS a supplement which can run anywhere from an additional hundred to two hundred dollars monthly depending on your age. Now add that up and shove it toward President Johnson’s ghost....does that sound like “hardly any cost” to you when your total income may be less than $1000 month.

There are many people out there that have gotten older...payed into both of these programs and are now on the below poverty level and actually starving. I am blasted mad at what was done through these two programs. YES...OVERHAUL THE ENTIRE SYSTEM....IT WAS, IS AND WILL ALWAYS BE A FAILURE!! I can personally testify to that!


19 posted on 03/05/2011 8:02:52 AM PST by imfrmdixie
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To: tsmith130
just wait till Obamacare starts showing up as a huge piece of that pie!
20 posted on 03/05/2011 8:04:06 AM PST by TexasFreeper2009 (Obama = Carter 2.0 The Epic Fail Edition)
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To: RockinRight

In order to get on SSDI or SSI you have to convince a judge, who is also paid by the Feds by the way, that you cannot engage in full time gainful activity. You are right in that almost anyone who is on SSI or SSDI can do some type of work, but the question is how long can they do it? Most could work a few hours a day, or a couple of days a week, but the judge has to be convinced that because of their age, education and level of disability that they can’t maintain full time gainful (ie, minimum wage or better) employment.
Every now and then you see some type of scandal where, until it is found out, and it usually is when free money is involved, that one or two judges are handing it out like candy. But SS keeps tabs on judges who deviate from the norm too much and they usually get shut down. (It takes a lot longer and is much rarer for a judge who isn’t putting people on disability as much as his peers to have any type of sanction.)
Also, it can SS a long time to re-evaluate people once they get on and some of them do get better, but that is a pretty small number and in reality they probably will always have some restrictions that make it difficult for them to get work even if they are now capable a maintaining some type of full time employment. There are very few jobs out there, for example, that allow you to alternate sitting and standing at will and lift less than 10 pounds. But, if you have a back injury, and everyone agrees that you need a job like that, you don’t get on SSDI or SSI even if there are no jobs like that in your home town because they exist somewhere. And as SS likes to say, they are in the disability business. They are not an employment agency. If you can do the work, and the job exists somewhere, you don’t win. Or at least you aren’t supposed to.


21 posted on 03/05/2011 8:06:55 AM PST by Controlling Legal Authority
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To: DNME

“Gee ... how did the United States government EVER have enough money to function before the 16th Amendment?”

We were free, then, and a truer Republic before the 16th. Now I would call this country MORE than just socialistic, we are on the cliff’s edge of communism. Yes, communism.

From Federal Reserve Banking that destroys the savings of the thrifty, to the socialist public schools, this nation is seeped in communism, we just call it by other names.
....social security.......public schools........taxes, everybody pays taxes, right?

“so there is nothing else they can take from us,...”

I am truly sorry to say this, but that is not true. Communism and it’s pal socialism don’t just want your money, they want your life and soul. There is more for them to take.

We are approaching a coming tyranny, the Feds almost have us, they want to control everything we do, they want us as slaves.


22 posted on 03/05/2011 8:19:37 AM PST by TruthConquers ( Delendae sunt publicae scholae)
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To: Son House
Wow...the charts show that 2020 entitlement spending equal 90% of the 2010 Federal Income.
23 posted on 03/05/2011 8:23:12 AM PST by harpu ( "...it's better to be hated for who you are than loved for someone you're not!")
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To: imfrmdixie

“There are many people out there that have gotten older...payed into both of these programs and are now on the below poverty level and actually starving. I am blasted mad at what was done through these two programs.”

Not only is it these programs, it is the nature of our “money” that causes this. Fractional Reserve Banking requires inflation to work. And an expanding credit bubble. What this results in the is that the worker who tries to save does not REALLY know how MUCH to save, because the money does not have a constant value. It changes over time. What is happening today is the US dollar has been weakened. So, where your plans and those of other thrifty people become unable to do what you need your dollars to do. The dollars are worth-less and don’t go as far as they should have.

And entire generation was told that there were going to be help for them. They were lied too. AND the Powers That Be KNOW THIS.

You should be mad. It is not just you. Look at the college grads who can’t find work and have student loans they have no way to pay back. The need for debt to keep our money system going will make slaves of us all.


24 posted on 03/05/2011 8:29:22 AM PST by TruthConquers ( Delendae sunt publicae scholae)
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To: harpu

Truly, we are scr@wed. It is unsustainable.

Our “money” requires an expanding credit bubble to grow and have value. The growth is not there. Therefore the debt will be unsustainable. We need REAL MONEY, not this debt slavery money, that will destroy this nation. Our country was not founded on this money system. It was put in place in 1913, the leading politicians of the day knew they needed this “money” to have a welfare state. Without it, they could not have had social security and all the other vote buying lies.


25 posted on 03/05/2011 8:35:41 AM PST by TruthConquers ( Delendae sunt publicae scholae)
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To: Son House

This chart isn’t the only one you need to understand, in that SS and MediCare funds are specifically paid in by working people and it’s not as if those funds can be used for programs other than SS or MediCare - unless they are borrowed through government action.

Therefore, what’s the current shortfall, if any, relating to both programs?

Showing a huge portion of a chart in entitlements when in fact people are paying into those programs - specifically is deceptive.


26 posted on 03/05/2011 8:40:13 AM PST by unique
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To: Son House

Open borders will cure all.


27 posted on 03/05/2011 8:50:52 AM PST by junta (S.C.U.M. = State Controlled Unreliable Media)
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To: TruthConquers

Thank you for your reply....my daughter is a good example of a “government loan” for school...she took one out some many years ago..fell onto hard times...then picked up paying it again to the max...but turned out the interst had piled up so high she couldn’t keep up...has been paying a note consistently for ten years and not made a dent...she now has a terminal illness...unable to work..had to file bankruptcy and her home was foreclosed...but the DAMNED loan could not be listed in the bankruptcy. So she is still being held accountable for payment...has little means to pay it...so the interest keeps on building...pretty soon that little student loan will be as large as the national debt and she is unable to get rid of it. That is the logic of our rulers in Washington. They’re all nuts!


28 posted on 03/05/2011 9:10:17 AM PST by imfrmdixie
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To: ladyjane

“These pictures say nothing about the massive entitlements of the illegals in this country and the non-working parasites.”
There are no massive entitlements of illegals.

“Politicians are afraid to cut those entitlement because they are afraid of riots.”
They can’t cut them because they aren’t there.

“Clearly the target here is social security and medicare. Old folks don’t riot.”
SS and Medicare are the targets of anyone who wants our country to be healthy. Old folks may not riot but they vote as if people who aren’t old enough to vote owe old folks something.

How about you just take care of yourself and leave the rest of us alone? Thanks.


29 posted on 03/05/2011 9:30:26 AM PST by MontaniSemperLiberi (Moutaineers are Always Free)
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To: Scanian

20% across the board, entitlements included, would leave us with spending at $2.8 trillion, still 600 billion in the red. Moreover, interest payments (minimum payment on our national credit card) can’t be cut.


30 posted on 03/05/2011 9:33:27 AM PST by MontaniSemperLiberi (Moutaineers are Always Free)
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To: G Larry

In 2008, 2009 and 2010 we still had the “full force of Bush tax cuts”. The fact is that tax cuts and spending increases are driving this country into the ground.

I and mine are fortunate. We can leave. I’m already looking into it and India and Australia look awfully nice. Especially Australia which has about one quarter of the debt, relatively, to the US. Canada is okay but cold. When people like me leave, a lot more people are screwed.

I’m trying to get it into as many heads as I can that the deficit needs to be eliminated or this experiment in natural rights is over. It needs to be eliminated with simple arithmetic and not economic theory.


31 posted on 03/05/2011 9:39:18 AM PST by MontaniSemperLiberi (Moutaineers are Always Free)
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To: Son House

“And what is obvious as well when you look at this is that there’s no way to solely grow our way out of this.”

Even Rush Limbaugh is admitting this. Thank God.


32 posted on 03/05/2011 9:40:04 AM PST by MontaniSemperLiberi (Moutaineers are Always Free)
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To: RockinRight

Roughly 80 percent of all disability services are given to the non-disabled.

I used to work (as a deaf student), with disability services. The number one disability? ‘Learning disabilities’. Why? They got extra time on tests.

There just simply aren’t enough folks with true disabilities to make up any significant portion of the student body. The harsh truth is that any who do make it that far likely don’t need assistance anyways.


33 posted on 03/05/2011 9:43:40 AM PST by BenKenobi (Don't expect to build up the weak by pulling down the strong. - Silent Cal)
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To: TruthConquers

I paid off every dime of my student loans. Took me 8 years and going to school every other year, but it got done.

Why should I have to pay because other people were fiscally irresponsible?


34 posted on 03/05/2011 9:48:31 AM PST by BenKenobi (Don't expect to build up the weak by pulling down the strong. - Silent Cal)
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To: Son House

You would drop entitlement by 20%; by removing illegals, and you would improve taxes by nearly the same amount because of increased wages that would need to be paid people to work in a free market.


35 posted on 03/05/2011 10:00:08 AM PST by org.whodat
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To: MontaniSemperLiberi

You really believe there are no massive entitlements being given to illegals? You are very wrong.

You really believe large welfare benefits are not there? You are very wrong.

Illegals are getting welfare, section 8 housing, WIC, food stamps, free medical care, free lunches and breakfasts, free education, the latest cell phones (with free calls to the homeland) and free taxi service to and from visits to get their free benefits. Even more benefits are out there for the welfare class who are citizens, e.g., free cars, insurance, gas cards for $4 a gallon gasoline and AAA with free towing service. It’s a wonderful country, isn’t it!

Are you aware that when someone in Iran or Mexico gets a serious illness, e.g., brain tumor, end stage kidney disease, their relatives in this country (many times here illegally) send them an airline ticket here. The sick person gets picked up at the airport and taken directly to the emergency room where they get free care. Brain surgery and dialysis isn’t cheap. We’re all paying for their care and there are millions of them.

BTW you say you’re a Navy brat. Most people associated with the Navy that I know have better manners than you. Your directive, “How about you just take care of yourself and leave the rest of us alone?” is rude, especially coming from someone as ill-informed as you.


36 posted on 03/05/2011 10:03:54 AM PST by ladyjane
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To: MontaniSemperLiberi

No massive entitlements to illegals, what are you drinking, all those little sluts dropping all those babies and we pay for every damn one. We buy their food, we buy their medicine, we give them housing and we put the trash in schools and feed them. You are off your rocker.


37 posted on 03/05/2011 10:04:31 AM PST by org.whodat
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To: org.whodat

The savings in especially three areas would be astronomical if we could take illegals out of the equation: health care, education, and the justice system. Illegals are the elephant in the room that no one wants to mention.


38 posted on 03/05/2011 10:10:38 AM PST by Tammy8 (~Secure the border and deport all illegals- do it now! ~ Support our Troops!~)
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To: Tammy8

Correct!!!!! It is the only real way to fix the problem, but no the republicans will spend from now to the next election blowing smoke up everyone rear.


39 posted on 03/05/2011 10:14:17 AM PST by org.whodat
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To: ladyjane; MontaniSemperLiberi

The problem is that we all know the federal government wastes billions of dollars on people and programs that they have no duty to be in business with. Food stamp fraud. Unnecessary administrative costs to dispense Social Security checks. The list is virtually endless. No one is willing to eliminate or reduce their benefits they feel they have already paid for (via FICA tax, etc.) — the pay-as-you-go notion not withstanding. Why should any legitimate US citizen agree to give up benefits/entitlements when the pittance they will give up will be donated to the UN, and spent wining and dining Red Chinese diplomats as examples. The whole cost of one year’s worth of Social Security checks for anyone would not begin to cover the cost of a POTUS trip to India. Squeeze the waste out until it hurts, and then come talk about reducing Social Security and Medicare.


40 posted on 03/05/2011 10:29:38 AM PST by sefarkas (Why vote Democrat Lite?)
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To: MontaniSemperLiberi

“In 2008, 2009 and 2010 we still had the “full force of Bush tax cuts”. The fact is that tax cuts and spending increases are driving this country into the ground.”

Poor analysis!

Tax cuts ARE NOT driving this country into the ground!
In ‘08, ‘09, & ‘10, the problem was the manufactured real estate crisis and the onset of Obama’s anti-capitalist policies.
Congress threatened banks that didn’t want to participate in lending to unqualified borrowers. This Democrat scheme was repeatedly warned against, by the Bush administration and others.
Obama’s administration of TARP was nothing more than a government takeover of business and banks, so they could reward their union thug buddies.
Tax cuts do exactly as I stated in my previous post, they INCREASE federal revenue, as long as you don’t have a socialist like Obama imposing regulations and burdens on business, that drive cost and uncertainty.


41 posted on 03/05/2011 10:49:08 AM PST by G Larry
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To: Son House

Cut not only SS, but Medicare/Medicaid, and Defense spending. All of the other programs are chump change compared to the Big Three.

The country is BROKE. We dont have the money anymore for bloated government. It all has to be cut drastically.


42 posted on 03/05/2011 10:51:19 AM PST by Soothesayer9
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To: MontaniSemperLiberi

I knew someone would mention that. Hopefully, keeping the government from borrowing at present levels and a serious effort by Congress to reduce the deficit will spur growth sufficient to generate revenues to make up the difference.

And if it doesn’t, cut more.


43 posted on 03/05/2011 11:04:10 AM PST by Scanian
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To: MontaniSemperLiberi
There are no massive entitlements of illegals.

So do you think we are supporting millions of people at no cost? Many only see the cheap cost of labor with the illegals- problem is they can't survive on the cheap wages either so they are on every possible program- you really need to educate yourself about the real costs of illegals in this country. Illegals have overwhelmed our health care system, our educational system, and our judicial system. There are also many hidden costs involved in their use of many other city,county, state, and federal services that they use and do not pay for.

44 posted on 03/05/2011 11:08:45 AM PST by Tammy8 (~Secure the border and deport all illegals- do it now! ~ Support our Troops!~)
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To: BenKenobi

“I paid off every dime of my student loans. Took me 8 years and going to school every other year, but it got done.
Why should I have to pay because other people were fiscally irresponsible?”

In a true, non socialist Republic, you shouldn’t. I agree.

But we don’t. We live in an increasingly socialistic/communistic country. The reality is that with the current monetary system we have, the national debt IS “us having to pay because other people were fiscally irresponsible.” The way this system is set up, it allows a welfare state that ALL of us pay for. And the irresponsible aren’t just the welfare queens. No, the greatest irresponsibility is those who have set economic policy, the politicians, and the idiots called the FED.

I remember Freepers encouraging college students to “leverage” themselves with college debt, because they will have the better pay to pay it back. Right here on good ol’Free Republic. I don’t remember the handle of those doing so, but I still wonder and hope the Freepers asking the questions didn’t listen.

We need a reset, a default. Then our politicians, and those who don’t want to be productive, will have to figure out the hard facts of life, finally. Until then, yes, we do, and have been, paying for other people’s irresponsibility, for many years now.


45 posted on 03/05/2011 12:00:56 PM PST by TruthConquers ( Delendae sunt publicae scholae)
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To: imfrmdixie

I am truly sorry to hear what has happened to your daughter. If my daughter had been a few years older, it could have been us.

The university system is itself a ponzi scheme that will fall. It is just a matter of time. That student loans are not allowed to be discharged in bankruptcy is a true evil to do to such a young adults like her self.

I call it indentured servitude; it is slavery. It is evil.

We need to default on the National debt and destroy the FED.
It is their need for more and more credit that has encouraged all the corruption that is becoming apparent every day.

Like Maddoff said, “The government is a Ponzi scheme.”
He would know, wouldn’t he?


46 posted on 03/05/2011 12:09:23 PM PST by TruthConquers ( Delendae sunt publicae scholae)
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To: TruthConquers

“We need a reset, a default.”

Great. I’m not paying for your loans unless you’re my wife. I already de-leveraged long ago. My whole family has, and is working on de-leveraging.

By the time we are finished, we’ll have a house free and clear and enough cars for everyone, all paid off and free and clear. We are getting there. 2 more cars and the house, and then we’ll be done.

“Then our politicians, and those who don’t want to be productive, will have to figure out the hard facts of life, finally.”

Not on the backs of the folks who de-leveraged you don’t. What am I to think if you push debt amnesty? I spent 4 years of my life working and waiting and saving because I wanted to avoid debt.

“Until then, yes, we do, and have been, paying for other people’s irresponsibility, for many years now.”

I have a choice, you can’t force me to pay a dime. Let’s make a deal here. You hire me and I’ll help you pay your loans off by making you money.

Or don’t hire me and leave me alone. Why are you making me pay for bills I never incurred and cannot afford to pay?


47 posted on 03/05/2011 12:09:33 PM PST by BenKenobi (Don't expect to build up the weak by pulling down the strong. - Silent Cal)
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To: Son House

.


48 posted on 03/05/2011 12:10:39 PM PST by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: SeeSharp

Cut 15 percent across the board and save 550 billion
Cut the Bush Tax cuts and save...........850 billion
1.5 trillion saved


49 posted on 03/05/2011 12:11:13 PM PST by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: TruthConquers

Nobody forced her to take on the debt. She chose to take it on, and wants to escape the consequences of her decision.

Why doesn’t she find a man who’ll put up with her and pay them off? That would be more responsible then sending the bill to the state and to us.


50 posted on 03/05/2011 12:11:52 PM PST by BenKenobi (Don't expect to build up the weak by pulling down the strong. - Silent Cal)
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