Reform of entitlement programs
Washington, DC may be taking it easy during this quiet August, but out-of-control entitlement programs aren’t taking a break from becoming a greater threat to the economy. These four charts explain why Washington can’t ignore entitlement reform.
1. This Peterson Foundation chart shows that the three big entitlement programs, Social Security, Medicare, and Medicaid (included in the chart as “Health”) make up big chunks of the federal budget.
2. This Heritage Foundation chart shows that these entitlement programs will continue growing unless they’re reformed.
4. And without reform, paying for these out-of-control programs will require marginal tax rates to almost double according to the Mercatus Center.
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Three years ago we were in the heat of a HCby OMGImin
Reform debate. Frequently and repeatedly it was thrown out that European HC was superior and we should be like them.
Now, with the Euro debt crisis brought on, in part, by the entitlement programs such as HC, the Euro is caught between two hard places:
2) Give Germany say in each of the European countries national budgets in exchange for Germany monetizing their debt.
Now that we have the HC legislation passed by the Dems and Obama, we can see where this is headed.
Why Cantor's defeat has shaken the GOP establishment — Atlanta Journal Constitution
During the campaign, Cantor was accused of insufficient fervor for a whole range of GOP pet causes, from repealing ObamaCare and "reform" of entitlement programs to using the debt ceiling to shut down government.