Monday, August 22, 2011

"Transfer Payments as Share of Government Spending, 1929 to 2010 - 3rd update

As life closes in on someone
who has borrowed far too much money on the strength of far too little income
there are no fire escapes.

John Kenneth Galbraith

Does earn today, spend tomorrow conflict with spend today
hope someone else earns enough tomorrow?

We should consider ourselves
unauthorized to saddle posterity with our debts
and morally bound to pay them ourselves.

Each generation has the right by will of its majority to bind themselves
but none to bind the succeeding generation.

Thomas Jefferson

If children are the most important American resource
why does everyone else receive the majority of government spending?

I fear that we may have already committed more physical resources to the baby-boom…
than our economy has the capacity to deliver

It is incumbent on government to convey to future retirees
that the real resources currently promised to be available on retirement
will not be fully forthcoming

Alan Greenspan

If Social Security taxes were increased to ease the burden of a smaller generation
tasked with providing benefits to a larger number of longer living elders
why did our elected leaders spend the surplus?

How long will the largest generation of parents in American history
receive entitlements funded by children who won’t receive the same from theirs?


W.E. Heasley said...

"The fundamental principle of socialism is that its is appropriate to use force to organize society, to take from some and give to others. The government has nothing to give. The government is simply a mechanism which has the power to take from some to give to others. It is a way in which some people can spend other peoples' money for the benefit of a third party - and not so incidentally themselves". - Milton Friedman

Abner Doon said...

Dead on.