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Go Ahead — You Own It
market-ticker.org / by Karl Denninger / 2017-03-22
I had an “interesting” debate on Twitter last night with someone who is involved in the health insurance game in some way and apparently has cancer patients as clients. He is a strong shill for the “Obamacare Repeal/Replace” process.
The debate was plenty fun and decent right up until I pointed out that on the math the Federal Government spent $1,417 billion last fiscal year on Medicare and Medicaid, up from $380 billion in 1998, which incidentally was 37% of all federal spending — and it’s accelerating at ~9% a year as it has been for the last several decades.
At this rate it will cross $2,000 billion, or more than half (by a good margin) of the current federal budget within 5 years. That will blow a $600 billion additional annual deficit hole in the budget into a rising rate environment which the government will not be able to finance.
That’s math, not politics.
For this I was told I was a conspiracy nut and belonged on Infowars. Never mind that every one of my figures came from the Treasury itself in the form of its official published balance sheet. If that’s tinfoil…..
The post Go Ahead — You Own It appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/03/22/go-ahead-you-own-it/
