Tuesday, January 29, 2013
Barack Obama Wants YOU --- to Pay $10,000 More To Maintain His Entitlement State
Entitlement spending is the driver of deficits, but entitlement reforms, such as raising the retirement age or converting Medicare to grants, collide with the core of liberal statist thinking. President Obama shows no sign of being willing to put entitlement reform on the table. If anything, the American Nanny State is too small. We must look to Europe to see it done right, those of the liberal persuasion believe.
The fiscal-cliff debunked Obama’s campaign myth that deficits would go away if the “rich paid their fair share.” CBO projections conclude that neither the $700 billion tax hike on the affluent nor the sequestration of discretionary spending will dent the trillion dollar annual deficits we face over the coming decade. With the Government Accountability Office declaring the current fiscal path unsustainable, the Obama administration must explain how it can contain the national debt without significant entitlement reform. So far its approach has been to pretend there is no problem.
go to forbes.com