Thursday, October 05, 2017

California leads the way

For years, I've been advocating entitlement reform while using the phrase "crowding out" as in spending on Medicare, Medicaid, and Social Security will overwhelm the entire Federal budget.  If you want to see the future, look first at the Golden State.  Hit and Run: "Like Schools, Parks, Social Programs? Too Bad, Because Retirees Get Paid First - New report shows how California's pension obligations are crowding out spending on other things."

Until, like Detroit, they don't.  Then it's "haircuts" for everybody.

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