The accepted wisdom is wrong
The Hoax of Entitlement Reform
Posted: 01/06/2013 7:25 pm, Robert Reich, HuffPost
It has become accepted economic wisdom, uttered with deadpan certainty by policy pundits and budget scolds on both sides of the aisle, that the only way to get control over America's looming deficits is to "reform entitlements."
But the accepted wisdom is wrong.
Start with the statistics Republicans trot out at the slightest provocation -- federal budget data showing a huge spike in direct payments to individuals since the start of 2009, shooting up by almost $600 billion, a 32 percent increase.
And Census data showing 49 percent of Americans living in homes where at least one person is collecting a federal benefit -- food stamps, unemployment insurance, worker's compensation, or subsidized housing -- up from 44 percent in 2008.
(More here.)
Posted: 01/06/2013 7:25 pm, Robert Reich, HuffPost
It has become accepted economic wisdom, uttered with deadpan certainty by policy pundits and budget scolds on both sides of the aisle, that the only way to get control over America's looming deficits is to "reform entitlements."
But the accepted wisdom is wrong.
Start with the statistics Republicans trot out at the slightest provocation -- federal budget data showing a huge spike in direct payments to individuals since the start of 2009, shooting up by almost $600 billion, a 32 percent increase.
And Census data showing 49 percent of Americans living in homes where at least one person is collecting a federal benefit -- food stamps, unemployment insurance, worker's compensation, or subsidized housing -- up from 44 percent in 2008.
(More here.)
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1 Comments:
This is worse than re-arranging the deck chairs on the Titantic, this is denying there is s ship!
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