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As a follow-up to my post yesterday, I should explain that when I said that the United States of America is “scheduled for demolition,” I was not engaging in overstatement. I believe this is literally true. Here are my reasons (with links to documentation supporting those views):
1. The healthcare now being considered by the US Congress will add another expensive entitlement to the already underfunded and unsustainable entitlement system of Social Security, Medicare, and Medicaid. According to both Clinton-appointed former Comptroller General of the United States David Walker and former Reagan-Bush Treasury Department economist Bruce Bartlett, the US government will be bankrupted within a matter of years, not decades, by an explosion of demand on the entitlement system as the baby boomer generation ages into the system.
When this happens, the entitlement system will collapse, and the government will not be able to provide for national security or education, much less Social Security and Medicare. This will happen well within our lifetime, possibly within a few years. The current bad economy is accelerating the pace of events by strangling revenue to the U.S. Treasury.
Bartlett wrote: “Taxpayers are on the hook for Social Security and Medicare by these amounts: Social Security, 1.3% of GDP (gross domestic product); Medicare part A, 2.8% of GDP; Medicare part B, 2.8% of GDP; and Medicare part D, 1.2% of GDP. This adds up to 8.1% of GDP. Thus federal income taxes for every taxpayer would have to rise by roughly 81% to pay all of the benefits promised by these programs under current law over and above the payroll tax. . . . To put it another way, the total unfunded indebtedness of Social Security and Medicare comes to $106.4 trillion. . . . But the nation’s total private net worth is only $51.5 trillion, according to the Federal Reserve. In effect, we have promised the elderly benefits equal to more than twice the nation’s total wealth on top of the payroll tax.“
In addition to all of that, we are now adding a healthcare entitlement.
I’m not being a partisan when I say this. I hold George W. Bush as responsible for this disaster as anyone. In fact, I have to give Bill Clinton credit for working with the Republican Congress and signing the first balanced budget in years in 1996; though his budgets didn’t come anywhere close to solving the problem, he at least moved in the right direction. George W. Bush compounded the approaching disaster by increasing Medicare obligations by 40 percent over 75 years with Medicare part D.
Here are the links:
2. The healthcare bill extends coverage to an additional 30 million people. At the same time, there will be a mass exodus of doctors out of the healthcare system.
Two separate polls have shown that nearly half of all doctors would quit the practice of medicine if Congress passes a government health care overhaul. The Investor’s Business Daily / TIPP Poll found 45 percent of doctors said they would quit their practice or retire early. The Medicus Firm Survey, published by the New England Journal of Medicine, got an almost identical result, 46 percent.
The American health care system is going to collapse under the combined weight of more patients and drastically fewer doctors.
3. Greece is our future. People are striking and rioting in Greece because the government is closing schools and shutting off pensions and other entitlements because the government of Greece is out of money. And that’s exactly the situation we are heading for. Greece is the canary in the coalmine. We’re next in line for asphyxiation.
Picture what happens to our society when the US government suddenly can’t pay police and soldiers, can’t equip the military, can’t keep schools open, can’t pay welfare checks, can’t pay pensions. The chaos in Greece is nothing compared to the social collapse that will take place in the USA.
This can’t go on much longer. We have already reached the point where China and other nations are warning they will no longer buy our debt. This situation is completely unsustainable. Yet we are going to add a multi-trillion dollar entitlement that will collapse our health care system, resulting in rationing and death. This is insane.
When I said that the USA is scheduled for demolition, this is what I meant. God bless America.
P.S. from Angie: don’t forget to order your WE WILL REMEMBER bumper sticker!