God Is Purging The Evil Government Of OBAMA/HILLARY
Mark Taylor
28st FEB 2018
Giving every adult in the United States a $1,000 cash handout per month would grow the economy by $2.5 trillion by 2025, according to a new study on universal basic income.What an incredible idea, eh?
The report was released in August by the left-leaning Roosevelt Institute. Roosevelt research director Marshall Steinbaum, Michalis Nikiforos at Bard College’s Levy Institute, and Gennaro Zezza at the University of Cassino and Southern Lazio in Italy co-authored the study.
These estimates are based on a universal basic income paid for by increasing the federal deficit. As part of the study, the researchers also calculated the effect to the economy of paying for the cash handouts by increasing taxes. In that case, there would be no net benefit to the economy, the report finds.Oh.
In her new book “What Happened,” and in a recent subsequent interview with Vox Editor-in-Chief Ezra Klein, Clinton explains how she seriously considered including a version of universal basic income — a radical solution to poverty, currently being tested in cities and countries around the world — as one of her platforms in the 2016 US presidential election.If the left is ever able to get this implemented, do you think that we will ever be able to take it away?
The platform would have been called “Alaska for America,” in homage to the state’s Permanent Dividend Fund. Every year since 1982, Alaskans have received a yearly check — typically ranging from $1,000 to $2,000 — as a kickback from the pot of money that has been set aside in case oil reserves dry up.
The federal debt officially surpassed $20 trillion for the first time on Friday, as the debt subject to the legal limit set by Congress jumped $317,645,000,000 in one day–following President Donald Trump’s signing of a spending-and-debt-limit deal that will fund the government through Dec. 8.If the left wants a “universal basic income”, they are going to have to get the money from somewhere. Our budget deficit is already larger “than the entire GDP of Argentina”, and hard working Americans are already being taxed to death.
Here’s the problem: the national debt is growing MUCH faster than the US economy. In Fiscal Year 2016, for example, the debt grew by 7.84%.This is not even close to the realm of being sustainable. We are steamrolling toward an inevitable financial collapse, and yet most Americans don’t seem to care.
Yet even when including the ‘benefits’ of inflation, the US economy only grew by 2.4% over the same period.
The Federal spending machine is almost entirely on autopilot and heading for disaster owing to ballooning populations and debt. Ten years from now the combined cost of mandatory programs and debt service will reach $5.12 trillion compared to just $2.87 trillion during FY 2018.There is no such thing as “free money”. In the end, we all have to pay for any “free stuff” that the government gives out.
Entitlement spending will be nearly double — even if Congress took a 10-year recess!
As shown below, that means the Federal spending share of GDP is now inexorably climbing toward 30% owing to baby boom retirements, even as revenue under current law is stuck at about 18% of GDP. The CBO’s latest projection of the widening fiscal gap — soon more than 10% of GDP annually — leaves nothing to the imagination.