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Friday, April 22, 2011

The Government Giveth, and the Government Taketh Away

What happens when government cash handouts exceed revenues?  Why, we borrow to consume.  Nothing wrong with that, right?

I've said for years  (decades, actually), that allowing politicians to buy us with our own money is a horrible idea, and knew that it would, eventually, be carried to this absurd extreme.  Naively believing that we can elect incorruptible souls to a beneficent government that has the power to take, by force, arbitrary amounts of our money and use it to general, rather self-seeking, benefit is hopelessly misguided and completely ignores the reality that we have not yet achieved that level of social and moral advancement.  It's also very foolish to use, via our votes, the government as a tool to exact petty revenge upon those whom we envy for having more than we have, because once out of its cage, the government knows no master.

Unfortunately for us, it's pretty much too late.  We can try to take the money away now, but the sad fact of the matter is that we have condemned future generations to pay for our foolishness.

While on that topic, let's look at what has now catastrophically morphed into immutable truth: that those who contributed to Medicare and Social Security must be paid out according to their expectations.

Why is this so?  The very obvious fact of the matter is that the current generation's "social security" lock-box was turned into a Ponzi Scheme by the representatives who were elected by this very generation.  Election after election, contributors to Social Security voted for those who would continue to raid the lock-box and use the money for "social programs" that never had any chance of generating a return on investment sufficient to replace the stolen funds.  It's hard for me to understand why (modulo the tendency of the immature to want to have their cake and eat it too), they think they are now entitled to be paid from Social Security at face value.  They could have elected people who could be trusted with the money.  They didn't.  Too bad.

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