Social Fund News

Questions About the Unfunded Liabilities

The unfunded liabilities. What’s their history? Where on the planet did they crawl from? We know that like a creature spawned from an alien ship crash, the ground in America shook throughout the twenty straight many years of baby booming – and this is when the monster started coming out – attracted through the smell of food.

Throughout the baby boom the population in the usa started to pop. Seeing the spike in Americans, the government chose to ramp up their promises of economic support for all of these folks. The result was an enormous ticking time bomb – the unfunded liabilities monster.

In the 1940s continue, the federal government continues to be piling on financial promise atop of financial promise, and now we are all stuck with a bill numbering in the multi trillions and guaranteeing to swallow our income through ravaging taxation.

Why?

Because the government – our government, any government – has no money. The government is really a container and hand of distribution – for your money. Which means the government’s debts may as well be in your balance sheet. Those tens of trillions of promises are not the government’s, they are yours. To finance these unfunded liabilities, expect your taxes to swallow your lifetime, like a vampire.

To really understand the nature from the monster, we must look only as far as the history of their components, to ensure that is exactly what we shall do.

Origin of Medicare and Medicaid

Medicare and Medicaid were created simultaneously. In 1965, 30 years following a development of Social Security, the Social Security Act was amended by President Lyndon B. Johnson to mirror various provisions and 2 of which were Medicare and Medicaid.

The push for government-administered financial assistance began in the early 1900s and gradually moved into acceptance. The concept has faced opposition in the usa largely since it is a distinctively socialist idea a bit outside the capitalist limits and individualist principles of the country.

Area of the gradual acceptance of health care insurance programs is due to the economical need of the nation, regardless of the political desires of those. Specifically, the cost of healthcare has been growing out of control – out of people’s pockets and causing these phones enter bankruptcy – and people live longer – thereby increasing their trips towards the doctor and likelihood of being bankrupted by medical expenses.

In a nutshell, the entitlement programs exist as a form of financial support on your greatest times of need – when your health is within danger so when you have no income upon retirement. The issue is these safety nets, these liabilities – are unfunded – meaning there isn’t nearly enough money to maintain these people once they require it most.

The Difference between US and Them

The fundamental difference between the collectivist and the individualist is the views on the influence of government and also the response to the question – who comes first, the group or the individual?

The fundamental distinction between the collectivist and also the individualist is the answer to our question (group first or individual first); the influence of government is just vital that you the two types of thinkers because the government is the authority responsible for establishing and maintaining the social philosophy.

The philosophy is the command and also the government may be the one that follows and executes the command.

From this single question – who comes first, the group or even the individual? – the collectivist and individualist designs all of their life and the extent to which they like freedom of preference and self-determination – financially as well as in all other areas.

Who’re you? Do you desire the freedom to select?

If you are a collectivist, then you definitely believe the group comes before the individual and also the government – as the supreme reflection of the group – is the ultimate authority for providing powers and freedoms for the people. You think that the individual ought to be sacrificed to profit the group. “Majority rules,” you say, since the group comes first.

If you are an individualist, then you definitely believe the individual comes before the group and also the government is given its powers through the individuals. The government’s role isn’t to supply power and freedom, only to protect the people’s powers and freedoms. You think that the individual shouldn’t be sacrificed to benefit the group. “Individual rules,” you say, since the group consists of only individuals, so the individual always comes first.

Americans are Individualists, Right?

America was founded on the principles of individualism.

In fact, the only reason america was formed was because the everyone was fighting the large government rule of Great Britain. In this way, America is individualism.

As you know, this individualism is interwoven within the American economic foundation, as opportunity and entrepreneurialism. Therefore since America is individualism, individualism has been our economic foundation, and our economy has often been the strongest in the world throughout its lifetime, it follows that our economic prowess has been intimately attached to our individualism.

This will be significant to understand because we are able to see that if our individualism is fading and our financial supremacy is falling, then not only shall we be seeing the fade of America itself, we’re also seeing a strong logical connection between our financial fall and our lack of individualism.

What does this suggest in my experience?

Which means that to the extent I’m contributing to the draining of financial individualism in the usa, I’m also adding to the draining of America’s prime source of economic prowess – hence, I’m contributing to the draining of my country’s money and also, since my country is made of millions of me’s, I am adding to the draining of my very own money too.