by Peter St Onge, Profstonge Weekly:
The national debt just crossed $40 trillion.
Congratulations, Congress — you stole every penny.
That’s up nearly $2.4 trillion in less than eight months. It’s also roughly double the debt America carried just nine years ago.
What’s driving it? Simple: The welfare state is eating America.
Including welfare, benefits, and pensions, nearly half of all federal, state, and local spending now goes to transferring money from one group of people to another.
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That’s roughly six times what America spends on defense. And it comes to nearly $5 trillion a year. Going by recent revelations on fraud rates — or welfare usage in previous decades — at least 80% of that is fraud or unnecessary vote-buying.
Implying that the entire deficit is, in fact, waste and fraud.
In other words, America is no longer a limited government with a safety net. It’s a transfer state where the main purpose of your taxes is largely buying votes.
