Saturday, October 12, 2013

Peak Entitlements

"Well, ladies and gentlemen, we're not here to indulge in fantasy but in political and economic reality."
--Gordon Gekko (Wall Street)

Since 1990, GDP is up 75%, while federal current expenditures are up over 300% and transfer payments are up 500%.

Meanwhile the ratio of full time employed people to Social Security beneficiaries has fallen to 2:1 and promises to fall more in years to come.

Productivity per person is up 58% during this period.

This is clearly unsustainable. How close are we to Peak Entitlements?

1 comment:

dgeorge12358 said...

I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.
~James Madison