LETTER: Out-of-Control Spending Destroying Our Economy

By Beacon Staff

Abraham Lincoln said, “A house divided against itself cannot stand.” The country is divided into two halves. The one half of the population that pays all the income taxes, and thus pays for all the governments programs, and the other half that pays no income taxes and uses most of the entitlement programs.

Out-of-control government spending is going to destroy the economy. The massive debt the federal government has accumulated is unsustainable. The middle class is disappearing. We have gone from being the largest creditor nation to the largest debtor nation. In 1965 the Congressional Budget Office (CBO) estimated that the cost for Medicare would increase to $60 billion dollars by 2010. The actual Medicare cost today is $480 billion, eight times the CBO’s estimate.

With the health care bill, Congress has just passed the largest increases in entitlements in 50 years. The CBO now says this will actually reduce the country’s debt. If you believe that there is a bridge for sale in Brooklyn.

John Vail