Biden’s Spending Blow Out Makes The Great Society Look Like A Bargain

Unleash Prosperity Hotline
Issue #327
07/15/2021
1) Biden’s Spending Blow Out Makes The Great Society Look Like A Bargain

Everyone knows that entitlement programs are on a course to bankrupt the country. Medicare and Medicaid already have a long term deficit of more than $55 trillion, according to the watchdog group Truth in Accounting. So naturally, Biden and the Dems want to vastly expand them.

https://www.truthinaccounting.org/library/doclib/Financial-State-of-the-Union-2020.pdf

The $3.5 trillion spending bill announced by Senate Democratic leaders this week may be the biggest expansion of the entitlement state since LBJ’s Great Society.” You remember: the “war on poverty” that cost more than $5 trillion and poverty still won.

The Biden proposal contains all sorts of new entitlements, such as universal and fully subsidized daycare and Pre-kindergarten and free community college and student loan forgiveness for kids who went to Harvard.

Biden also wants to EXPAND Medicare to include vision, hearing and dental benefits. This at a time when Medicare trustees warn that Medicare’s Part A “trust fund” is likely to run dry by about 2026 and possibly as early 2024. So might as well speed up the Titanic. 



By the way, Congress already dipped into Medicare’s reserves to help fund the COVID-19 bailout efforts this spring. 
 
So why are Democrats rushing to expand the already-financially teetering Medicare program? David Jonas, a former staffer for Barack Obama who’s now an editor at Political Wire, says that Democrats want to make these fiscal time bombs irreversible by future Congresses. His tweet says it all: Medicare expansions are forever

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