Wednesday, April 15, 2015

CHART: Tax Day is Almost Done, Here's How the Federal Government is Committing Fiscal Suicide

Courtesy of the Tax Foundation comes this ominous chart:

Here's what this chart tells us:

• The federal government has become a massive machine for wealth redistribution: it launders ever-increasing amounts of money through an expensive, outdated, wasteful, fraud-ridden bureaucracy and then tries to centrally manage the retirement system, the health care system, and the welfare system. It will, at the end of the day, have all of the success that the Soviet Union had.

• The core task of the federal government, which is protecting the American people, has become an afterthought. National security, in the form of defense or border enforcement, is a tiny fraction of the federal money-laundering, wealth redistribution machine.

Interest rates, which are at all-time lows -- suppressed by a Federal Reserve that has printed digital currency by the trillions -- will eventually go up. And, when rates go up, the results will be catastrophic across the board. Interest payments will squeeze out all other forms of spending, risking a complete collapse of the currency.

The idiots in Washington, both Democrats and establishment Republicans, have set the system up to implode.

We need a man outside the system -- a man like Ted Cruz, principled and steel-willed -- to start reforming this Rube Goldberg fiscal suicide machine.

Hat tip: BadBlue News

1 comment:

Mike Feehan said...

Reminds me of something I read a few years ago: America has transformed into an insurance colossus that maintains a standing army.