Sunday, May 15, 2016

Entitlement Reform, Anyone? ... Government Spending on Health Care, Social Security and Debt ... A Quick Look at What We're Bequeathing to Our Kids and Grandkids

What are we bequeathing to our kids and grandkids in the way of debt, unfunded obligations and a lower than otherwise standard of living? 

The following chart tells the gruesome story, and facts are stubborn things.

All Tax Revenue Will Go Toward Health Care, Social Security and Net Interest by 2033 has all the details:

Before children born this year graduate from high school, all projected tax revenues are expected to go toward only health care (including Medicare, Medicaid, CHIP, and Obamacare), Social Security, and interest on the debt. Entitlement reform is a must.

All Tax Revenue Will Go Toward Health Care, Social Security, and Net Interest by 2033
Sources: Congressional Budget Office and Office of Management and Budget.

Summing Up

For a more detailed look at what's ahead, click on the above referenced site and see for yourself by viewing the several related charts.

(1) Are we doing the right thing for our kids and grandkids?

(2) Are our politicians even talking about how to deal with all this ugly stuff?

In my view, the correct answers to the two questions are (1) of course not and (2) of course not, respectively.

What are your answers?

Politics sucks.

That's my take.

Thanks. Bob.

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