That entitlements have an effect on the economy if you'll concede that we spend an unholy amount on our military which completely overshadows all other national expenditures.
This is not true, and it's surprising how many people still believe it.
From the proposed 2008 budget:
Security (including all DoD spending, the war, Homeland Security, requested emergency military supplemental funding, etc.): $658 billion.
Social Security, Medicare and Medicaid (not counting other mandatory spending): $1.203 trillion.
The entire rest of the "discretionary" budget--everything else the government spends money on including space, highways, you-name-it: $456 billion.
Between defense and entitlements, only one category is going to increase drastically over future decades. One way or another, the war in Iraq will be over in ten years. Entitlements will just be getting started.
Current Events » in reply to I'll be willing to concede
"...completely overshadows all other national expenditures." Completely wrong.
The whole thread (31 posts)
- Did anyone else see this stock market drop coming?
- So down about 1000 points since it hit 14000.
- Perspective
- I have to laugh at all the panic selling
- And here's PANIC! From the Fed.
- Sure. Did you see the "Cramer" interview cited on HZ?
- Not in the timing, but...
- A 5-10% correction could happen at any time.