savejersey.com
Op-Ed: Americans Once Again Betrayed by Their Own Uncle Sam
Dale Glading
Cross-Posted from DaleGlading.com
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It may be the greatest betrayal of Americans by their own government in U.S. history, right up there with Congress raiding the Social Security “lockbox” to pay current expenses. In that latter instance, the $2.8 trillion surplus that the Social Security Administration amassed from the mid-1980s through 2020 has been invested in interest-bearing Treasury securities. In other words, by investing in T-bills, the SSA has loaned the federal government money for its general operating budget, money that will have to repaid to cover future benefits by borrowing even more money (with interest) down the road.
Got it?
As a result of that “rob Peter now to pay Paul later” mentality, Social Security is expected to deplete its trust fund by 2037, after which benefits will have to be reduced by approximately 25% for the program to remain solvent. That means that a government program that was built upon the shoulders of Baby Boomers in the workforce is projected to collapse when those same Boomers are fully retired.
Sounds like a Ponzi scheme on steroids to me.
<< EDITOR ADDED: Absolutely!>
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Even worse, FEMA is now in no position to assist American citizens in the path of Milton because it mismanaged its $33 billion budget, only $20 billion of which is actually designated for major disaster relief. How incompetent, unconscionable, and unforgiveable is that?
By comparison, Samaritan’s Purse operates on a $1 billion annual budget and provides far more emergency relief in a far more effective manner. According to Christianity Today, “the organization’s 160,000-square-foot warehouse and offices in North Wilkesboro, NC employ 385 people who buy, repair, maintain and retrofit millions of dollars’ worth of medical equipment, generators and water filtration systems, much of them donated. The warehouse has six emergency field hospitals ready to ship, four with tents, hospital beds, anesthesiology equipment, X-ray machines, and surgical suites – all engineered to fold into a plane’s fuselage. There are also miles of plastic tarps, mountains of clothing and boxes full of small brown teddy bears with the Samaritan’s Purse logo – a cross inside a circle.”
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And so, I suggest the following: impeach Secretary Mayorkas for a second time and turn the rest of FEMA’s annual operating budget over to Samaritan’s Purse.
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Clearly, the Federal Gooferment is a complete failure in so many many dimensions. Time to start over. Let’s dissolve “The United States” into its component parts and let the individual States figure out the problem. Just declare bankruptcy and let the chips fall where they may.
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