Economists and pundits are beginning to sound alarms that the U.S. economy is perilously close to a “tipping point,” where so many voters will be on the public payroll it will be politically impossible to reign in entitlement programs.
The trillion-plus Obama stimulus program, they warn, could push the economy over the brink.
Already, 40 percent of Americans don’t pay taxes. Obama’s stimulus gives non-taxpayers up to $1,600 – money they did not pay – in the form of a tax credit.
Putting millions more workers on the entitlement roles, either through universal health insurance or the expanded SCHIP health program, will further diminish support for future free-market reforms to make the U.S., economy more competitive, conservative economists warn.
Free-market economists point to failed welfare-state experiments in England, France, and Germany, and now openly say America could be headed down the same rocky road. Read More
Is this what we the American people wanted when voting Obama as president a Liberal Welfare State? If not would you still vote for him today?
Do you Republicans ever stop with the ridiculous statements of fear?
Do you Socialist futiledemocracy ever stop trying to defend Europe’s failed socialist welfare?
40% pay no taxes, probably could say 40% and rising
Excellent article. The tipping point is probably socialized medicine. SCHIP may be more destructive in the long run than any of the provisions in the “stimulus.” And Sowell is exactly right on the first New Deal. We were still in the process of recovering from it, when along came Social Jones and plans for a second New Deal. Watch Europe (to include futile’s home island). If the media deign to cover events in Europe, their example may save us.
Statements of fear? WTF? It’s called truth, maybe democrats should look it up! You have some serious screws loose.
I’m not so sure democrats can read, I do know they can’t hear or they would be backing down from this big spending package.
From a commenter at Gateway Pundit
There are two kinds of people in the electorate: 1. People who remember how horrible the Jimmy Carter years were. 2. People who are about to find out.
That’s funny….he was president when I was born! I still know how bad it was…..
helochick you’re giving away your age..but to be honest I was in the Air force when JFK was president and had been in the Army before that. LOL