Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Social Security

CBO’s Funny Math

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, October 22, 2014:

National debt clock

National debt clock

The Congressional Budget Office’s August update to the federal budget and outlook for the next 10 years released last week was so filled with questionable assumptions as to make their conclusions completely unrealistic. As expected, the mainstream media focused only on the parts of the report that fed and supported their worldview. For instance, the CBO said that revenues were expected to increase by about 8% over last year to a world record $3 trillion, thanks to increases in individual income taxes, payroll taxes, and corporate income taxes.

This was understood by the White House and establishment economists to

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National Debt to be $27 Trillion in 10 Years, Says the CBO

This article was first published at TheNewAmerican.com on Thursday, October 16, 2014: 

English:

There was something for everyone in the release last week by the Congressional Budget Office of its August update and outlook. The federal government’s revenues are expected to top $3 trillion this year for the first time in history, thanks to individual income taxes rising by six percent, payroll taxes by eight percent, and corporate income taxes by 15 percent. Those infatuated with big government are celebrating the event as a reflection of an improving economy resuscitated by government spending and stimulus programs. Small government advocates, on the other hand,

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Welfare State Costs Taxpayers More Than $2 Trillion a Year

This article first appeared at TheNewAmerican.com on Wednesday, August 6, 2014:

 

Following the release of the latest budgetary statement from the U.S. Treasury, Ali Meyer dove into the statistical morass of charts and graphs to determine just how much the welfare state is paying out in benefits. Meyer, writing at CNS News, concluded that beneficiaries received over $2 trillion from the American taxpayer last year, or almost

 

Tea Party Protest, Washington D.C. September 1...

Taxpayers protesting

60 percent of all federal government spending. This included “means-tested” benefits — which require incomes to be below a certain level to quality for them — as well as “non-means tested” benefits such as Medicare, Social Security, unemployment insurance, workers’ compensation and the like.

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The New Third Rail: Cutting Government Spending

This article was first published by The McAlvany Intelligence Advisor on Monday, July 14, 2014:

 

Historical government spending in the United S...

Historical government spending in the United States from 1902 to 2010

Back in February the Congressional Budget Office (CBO) estimated that the deficit for the 2014 fiscal year would be $514 billion, or about 3 percent of the total economic output of the country. Since this was a nearly 27 percent drop from last year, the implication is that all is well, nothing to see here, move along please. After all, the perception has been that the White House has been spending money faster than at any time in history, running up deficits and the national debt to staggering levels. Half a trillion? Is that all? Pocket change!

Greg Valliere, the chief political strategist for the Potomac Research Group, said at the time that this guaranteed that there would be no pressure for any sort of entitlement reform this year. Jack Lew, Obama’s Treasury Secretary, said the numbers bought some time: “We have a little time to deal with the long term.”

Last week both the White House and the CBO revised downward even further the expected deficit, with Obama taking full credit for the result:

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Study: All Jobs Growth Since 2000 Went to Immigrants

This article was first published at TheNewAmerican.com on Monday, June 30, 2014: 

 

Immigrants just arrived from Foreign Countries...

Immigrants just arrived from Foreign Countries–Immigrant Building, Ellis Island, New York Harbor.

With the release of the report by the Center for Immigration Studies (CIS) last week, Director of Research Steven Camarota drove the final nail into the coffin of immigration reform for this year, saying:

Government data show that since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal).

This is remarkable given that native-born Americans accounted for two-thirds of the growth in the total working-age population.… There were still fewer working-age natives holding a job in the first quarter of 2014 than in 2000, while the number of immigrants with a job was 5.7 million above the 2000 level.

All of the net increase in employment went to immigrants in the last 14 years.

 This effectively obliterates the assumptions underlying the immigration reform bill SB 744, which was promoted by a bipartisan group of Democrats and Republicans (called by some observers the “Gang of Eight”) and passed by the Senate, 68-32, a year ago last week. That bill was based on several key assumptions: 1) that there is a labor shortage in the country, 2) that there are some jobs only immigrants want, and 3) that higher levels of immigration would stimulate the economy so that everyone, native-born or immigrant, would find more work.

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Welfare Recipients 3, Taxpayers 2

Say Goodnite America!

Say Goodnite America! (Photo credit: Templar1307)

This article first appeared at The McAlvany Intelligence Advisor on Monday, April 21, 2014:

The Census Bureau, teaming up with the Bureau of Labor Statistics, confirmed what many have long suspected: the United States is a welfare state, and the recipients are gaining on the taxpayers. According to their just-released Current Population Survey, there are nearly 150 million people on the dole compared to fewer than 90 million being squeezed to make the payments. And the longer the game goes on, the worse the score will get.

After Terence Jeffrey, former editor at Human Events and now senior editor at CNSNews, dissected the pages-long survey, he lamented:

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Census Bureau Reports 62 Million more Takers than Payers

Attack of the Giant Leeches

Attack of the Giant Leeches (Photo credit: Wikipedia)

The latest Current Population Survey, a joint venture between the Bureau of Labor Statistics and the Census Bureau , showed 148 million “benefit takers” compared to the benefit providers – workers in the private sector – who number less than 90 million. According to Terence Jeffrey, the senior editor at CNSNews, that’s a ratio of 3:2 and it’s only going to get worse: “As more Baby Boomers retire and as ObamaCare comes fully online … the number of takers will inevitably expand. Eventually there will be too few carrying too many, and America will

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Social Security Stops Seizing Refund Checks for Decades-Old Debts

Social Security Poster: old man

Social Security Poster: old man (Photo credit: Wikipedia)

Mary Grice, a resident of Maryland, was expecting her refund checks of $4,462 from the IRS and the state of Maryland. They never came. Instead she got a letter from the Social Security Administration (SSA) saying that they took them to settle a debt owed by her father – in 1977. When the Washington Post learned that she was filing suit over the matter, things began to happen. She told them: “It was a shock. What incenses me is the way they went about this. They gave me no notice.”

Her attorney, Robert Vogel, amped up the issue, putting the SSA on the defensive. Their explanation was spotty. Apparently

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President Proposes Doubling the tax Subsidy for the Poor

President Obama’s proposal to double the earned income tax credit (EITC) for the working poor on March 4 came with all the attendant benefits such an expansion would provide: it would reduce poverty while encouraging people not working to get a job. It would expand the existing law to cover an additional 16 million families with 30 million children.

In his State of the Union Address in January, the president warned this was coming,

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Is the Dingell Dynasty in the House Over?

This article first appeared at The McAlvany Intelligence Advisor on Friday, March 7, 2014:

The encomiums poured in following the announcement by John Dingell (D-Mich.) last week that he wouldn’t be seeking a 30th term in the House. Tweeted Gary Peters (D-Mich.): “Today we honor the service and legacy of Michigan’s greatest Congressman. His accomplishments will never be forgotten.” Such praise would reasonably be expected from a hard-left progressive like Peters who

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Age and Acrimony End Dingell Dynasty in the House

Born in Colorado Springs in 1926, John Dingell (D-Mich.) took over from his father as a Representative from Michigan in 1955 and has never stopped promoting his father’s progressive agenda. On Monday, February 24th, Dingell announced that he would not seek a 30th term partly due to

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Latest CBO Outlook Ignores Birth Rates and Tipping Points

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, February 5, 2014:

Just reading the headlines, the average citizen is likely to think that now that the deficits are under control Washington can focus on problems elsewhere. The Congressional Budget Office (CBO) estimated in May that the current year’s deficit would come in at $560 billion, half what it was just two years ago. In its report released on Tuesday, it was pleased to note that

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Supreme Court hears forced unionism case brought by Illinois mother

When Pam Harris responded to a knock on her door on a Sunday morning back in 2009, she was surprised at the presence of a union organizer asking her to join his union. When she pressed him for details she learned that because she was accepting state Medicaid funds to help care for her disabled son she was now considered a state “employee” for union-organizing purposes and was required to join his union.

Harris said no thanks and began

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Free Market Alternatives to Obamacare Already Exist

More than a year ago, Dr. Barbara Bellar, a medical doctor with a JD degree, was running for office as an Illinois State Senator, and provided a sound byte that continues to reverberate across the internet, having been viewed as of this writing some 3,675,000 times. The clip lasts less than two minutes, including laughter and applause from her audience, to whom she said:

So let me get this straight. This is a long sentence:

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Ryan-Murray debt agreement gives away sequester cuts, sells out tea party conservatives

In announcing the budget agreement hashed out during secret negotiations over the past two weeks, Rep. Paul Ryan (R-Wis.) said:

I’m proud of this agreement. It reduces the deficit without raising taxes. And it cuts spending in a smarter way. It’s a firm step in the right direction…

This was for public consumption. In fact, now that the agreement has passed the House and will likely shortly pass the Senate, it will

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The Implosion of the Social Security Disability Ponzi Scheme Accelerates

Fresh data just released by the trustees of the Social Security Administration show that the number of people receiving benefits from the Disability Insurance Trust Fund has exploded over the last five years, reducing the surplus in that fund from $216 billion in 2008 to just over $100 billion in 2013. There were 7.4 million recipients in January 2009, but as of October 2013, there are nearly 9 million beneficiaries, not including

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Fitch Threatens Downgrade; Boehner to Surrender

This article first appeared at The New American online on Wednesday, October 16th, 2013:

 

Despite mounting evidence that the government will have more than enough money to pay its essential bills and that the real national debt is $70 trillion, not $17 trillion, and despite pressure from Tea Partiers and constitutionalists to resist, House Speaker John Boehner is likely to bring the Senate bill to a vote in the House where, if House Minority Leader Nancy Pelosi is right, it will

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Scary Default Scenarios Based on Faulty Treasury Department Release

Within hours of the “brinkmanship” press release by the U.S. Department of the Treasury, major media began to repeat the highly dubious risks outlined by the department without reading carefully exactly what it contained. The headline and opening paragraph were all that the echo chambers needed:

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US Government Shutdown Not Likely to Break Belgium’s Record of 589 Days

With news that the partial US government shutdown won’t be resolved for at least the next two weeks, and will then only likely end when the debt limit crisis forces it, commentators have resurrected the history of the last government shutdown during the Clinton administration. But little if any media attention is being paid to the longest government shutdown,

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Social Security Disability is turning into a Lifetime Unemployment Program

Back in 2011, if Eugene LaPorte knew that the Social Security Disability Insurance program was going to be broke in five years, he probably wouldn’t have cared. He needed the money and he was out of options. When he graduated from high school in Millinocket, Maine, in 1973, he went straight to work for the Great Northern Paper Company, the economic anchor in this small town in northern Maine. He became a supervisor and, just before the company went bankrupt in the early ‘90s, was earning nearly

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.