Monday, February 20, 2012

Everybody's on the dole

Missed this last week, but the Grumpy Economist has a good post about how intractable entitlement spending has become because it's mostly cash sent to, well, people who vote:
Comment: Now, could we please stop talking about how we need more taxes to pay for roads and bridges or to help the poor? The main function of our government is to write checks to middle-class and wealthy voters. And that's the reason its finances are in the toilet.
RTWT as they say, but the key to remember is that discretionary spending is getting squeezed by payments to banks (to cover interest on the debt) and relatively well-off seniors.

No comments: