It is clear that Karl Marx’s mantra “From each according to his ability, to each according to his needs” applies well to “wealth transfers.” Starting with Social Security under FDR, our Republic has turned into the “take from one to give to another” society.
Add to that the “Moral Hazard Dilemma” of, for free (ok, not really free) leveraged against the Left’s yammering about sustainability; and this amount of spending ain’t it:
Most of this is borrowed money and paying for THAT will be around until the US declares bankruptcy. The general end of any country that uses any derivative of “Modern Monetary Theory” as a guiding light – especially when you’re paying people to stay home.
So we are barreling down the track to Weimar Republic, Zimbabwe, and Venezuela territory and look at the highest priorities of payments the Federal Government makes:
Right now, it’s #4 but look at the rise on just the interest payments with no principle being paid back. It IS unsustainable.
There used to be this “joke” (not really but “stupidity” doesn’t cover it very well) by the Left: Terry Herndon, executive secretary of the National Education Association, said in 1973,
“I look forward to the day when the schools automatically receive the funds they need and the Pentagon holds bake sales to buy tanks.”
Yeah, I think those days are LOONG gone – just look at the money spent / child here in NH – and then look at the standardized test scores. Herndon (in hindsight) proved my thesis that educational spending isn’t for the children, it’s for the adults (especially the Union Honchos).
But we’ll all be having bake sales because we’ve elected Representatives that think that the money firehose never has to be shut down – instead, they’re pumping gas onto the fire of our own destruction.
(H/T: The Daily Signal)
