0 sats \ 9 replies \ @alevu 23 Mar \ parent \ on: Are Bank Failures a Sign of More Trouble Ahead? | Ron Paul bitcoin
I don't think that "master with words" apply to someone describing the US as a welfare state
Why? The US has between 60 and 200 trillion dollars in unfunded entitlement liabilities. Sounds like a "welfare state".
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That's not what happens. The bulk of Federal spending is direct transfer payments to individuals.
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I have no objection to this characterization.
Boomers won't be satisfied until they've consumed all of the resources from their own generation, their parents generation, and their children's generation.
Hopefully, they'll be out of the picture before they get to plunder their grandchildren as well.
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Fine. Call it whatever you want, but the US spends more on direct government transfers than most "welfare states", so it's not an unreasonable label.