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A Shot across the Entitlement Bow

Anyone who has looked at the financial condition of this country knows insolvency cannot be remedied without severe cutbacks in entitlements such as Social Security, Medicare and Medicaid. Similarly, major cutbacks in the welfare and warfare state will be required. These latter cutbacks are not sufficient. The bulk of the cuts must come from entitlements.

For those depending upon these benefits, the bad news is just starting. Bloomberg reports:

Erskine Bowles, co-chairman of the commission on U.S. deficit reduction, said entitlement programs such as Social Security will turn the nation into a “second- rate power” if their costs aren’t reduced.

“We’re going to mess with Medicare, Medicaid and Social Security because if you take those off the table, you can’t get there,” Bowles said today in a speech to North Carolina bankers in Greensboro. “If we don’t make those choices, America is going to be a second-rate power and I don’t mean in 50 years. I mean in my lifetime.”

1 thought on “A Shot across the Entitlement Bow”

  1. OK sorry if this is slightly off topic but I thought this was a good one:

    The dream of the older generation was to pay off a mortgage. The dream of today’s young families is to get one.

    If you think no one cares you’re alive, miss a couple of house payments.

    My buyers went through debt consolidation. Now they have only one bill they won’t pay.

    If you want to know exactly where the property line is, just watch the neighbor cut the grass.

    This country is great. It’s the only place where you can borrow money for a down payment, get a 1st and 2nd mortgage and call yourself a homeowner.

    The trouble with owning a home is that no matter where you sit, you’re looking at something you should be doing.

    PLEASE POST MORE JOKES 🙂 Wecan all use a little laugh

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