Social Security

Friedman: The fallacy of the welfare state
22
Jul
By Bob Weeks

Friedman: The fallacy of the welfare state

As we approach another birthday of Milton Friedman, here's an insightful passage from the book he wrote with his wife Rose: Free to Choose: A Personal Statement. It explains why government spending is wasteful, how it leads to corruption, how it often does not benefit the people it was intended, and how the pressure for more spending is always present. A simple classification of spending shows why that process leads to undesirable results. When you spend, you may spend your own money or someone else's; and you may spend for the benefit of yourself or someone else. Combining these two…
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27
Apr
By Bob Weeks

The Reagan legacy on spending

As time passes, it may be possible for widespread critical evaluation of Ronald Reagan, both the good things he did, and the bad. Nick Gillespie of Reason reports some facts about the Reagan record and on Senator Rand Paul's speaking accurately about it, concluding: "Take on Reagan's legacy and you're playing with fire. Especially if you're right about Reagan's terrible record on spending, which Rand Paul absolutely is." After trimming some programs early in his presidency, Reagan came around to pushing massive increases on just about everything, including education (a newly formed federal department he promised to kill upon taking…
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04
Feb
By Bob Weeks

Medicaid expansion: The impact on the federal budget and deficit

From Kansas Policy Institute. Medicaid Expansion: The Impact on the Federal Budget and Deficit By Steve Anderson The problem with the uninsured is not going to be solved by expanding Medicaid. Even amongst Medicaid’s staunchest proponents you’ll be hard pressed to find any who will claim it to be the equivalent of high quality private health insurance coverage. The number of federal senators and representatives that choose to exclude their staffers from Obamacare shows that many Washington politicians understand the quality of government insurance plans Medicaid and Obamacare represent. The simple fact is, that health insurance is not to be…
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27
Jul
By Bob Weeks

Friedman: The fallacy of the welfare state

As we approach another birthday of Milton Friedman, here's an insightful passage from the book he wrote with his wife Rose: Free to Choose: A Personal Statement. It explains why government spending is wasteful, how it leads to corruption, how it often does not benefit the people it was intended, and how the pressure for more spending is always present. A simple classification of spending shows why that process leads to undesirable results. When you spend, you may spend your own money or someone else's; and you may spend for the benefit of yourself or someone else. Combining these two…
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01
Oct
By Bob Weeks

Things have changed at Social Security Administration

Remember when your Social Security card stated that it was not to be used for identification purposes? You'd have to be of at least a certain age to remember this, according to SSA: "The first Social Security cards were issued starting in 1936, they did not have this legend. Beginning with the sixth design version of the card, issued starting in 1946, SSA added a legend to the bottom of the card reading "FOR SOCIAL SECURITY PURPOSES -- NOT FOR IDENTIFICATION." This legend was removed as part of the design changes for the 18th version of the card, issued beginning…
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25
Sep
By Bob Weeks

Government interventionism ensnares us all

Are those who call for an end to government subsidy programs hypocrites for accepting those same subsidies? This is a common criticism, said to undermine the argument for ending government subsidy programs. Rather, the existence of this debate is evidence of the growing pervasiveness of government involvement not only in business, but in our personal lives as well. Recently the Wichita Eagle printed an op-ed critical of Charles G. Koch, chairman of the board and CEO of Wichita-based Koch Industries. The target of the criticism was Koch's recent article in the Wall Street Journal titled "Corporate Cronyism Harms America" with…
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15
Jul
By Bob Weeks

Pompeo: No debt ceiling hike without structural changes

In a press conference held yesterday, U.S. Representative Mike Pompeo, a Wichita Republican, said the country can't risk continuing to spend at the present rate. There should be no agreement to raise the debt ceiling absent structural changes, he added. He called for "real short term savings" in 2012 and spending limitations. He also said he supported an amendment to the Constitution requiring a balanced budget. On federal spending, Pompeo said "I've been here six months now. If there's one thing that's become very clear, this town is a place that is addicted to spending." He described the direction of…
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12
Jul
By Bob Weeks

President Obama: Just cash in the Social Security Trust Fund

Speaking about Social Security, President Barack Obama told CBS news today that "I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it." The issue he refers to is raising the federal debt ceiling. That's a very curious statement for the president to make. Because liberals, he included, refer to the $2.6 trillion Social Security Trust Fund as money socked away, available to pay benefits for a long time. So couldn't the president simply cash in a few of the…
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04
Jul
By Bob Weeks

Social Security Trust Fund: Why no truth?

Regardless of one's attitude towards the Social Security system, the refusal by liberals to admit the fraud of the system's trust fund remains an obstacle to honest discussion of the system's future. Here's an example from a prominent defender of the myth of the Social Security Trust Fund, Sen. Bernie Sanders of Vermont. In an editorial from earlier this year, Sanders said those who tell the truth about the Social Security Trust Fund are a "barrage of misinformation." He went on to describe the trust fund: "Social Security invests its surpluses, as it should, in U.S Treasury bonds, the safest…
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