Jim Fuxa: Our $400,000+ entitlement debt
Frisco, CO Colorado
Do our politicians and the media tell us that each American household is over $400,000 in debt just for entitlements? Have the politicians and the media told us that the government accounting office (GAO) keeps three accounting books? One book is for entitlements, one for general budget, and one for emergencies. The reason for this article is that I find people are uninformed and/or don’t believe this information. At this time, go to your computer and access Google. Then type in Walker GAO. Go to the topic dated Jan. 12, 2008, which says “GAO comptroller David Walker warns of financial crisis.” Then click on the video that starts with Glenn Beck which leads to a discussion with the retired 15-year head of the GAO, David Walker.
How did we get to these embedded entitlement debts? We know that the Democrat President Franklin Roosevelt gave us Social Security. He is often given credit for this program. In 1964 Democrat President Lyndon Johnson and his party gave us the more expensive entitlement programs called The Great Society or the War on Poverty. Most of us don’t know all of the entitlement programs that exist under The Great Society. In 1965, Democrat Lyndon Johnson and his party moved the Social Security trust fund to the General Budget. Why aren’t Democrat President Lyndon Johnson and his legacy, The Great Society, ever mentioned by the media or his party? In 1965 Lyndon Johnson said, “Now that we have The Great Society, soon there will be no poor people in our country.”
I hope after watching the video with David Walker, you are as concerned about our politicians and the media as I am. For example, the very nice young man and our state senator, Dan Gibbs, did not know what the Great Society was and therefore didn’t know what party gave us the entitlements that gave each household over $400,000 of debt. Remember, Mr. Gibbs worked for U.S. Rep. Mark Udall, and do we conclude that they never discussed this problem? Perhaps I am overly concerned about the bankruptcy of our country, but why aren’t the politicians and the media?
Margaret Thatcher said, “Socialism works until other people run out of money.” Remember, don’t be angry at the messenger, but the politicians that gave us this debt and their proteges that will not reform or eliminate entitlement programs.
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