Depending on who you read, this country is in for a bumpy ride. The problem centers on a debt spiral that is out of control, and only getting worse.
The latest reason for this pessimism comes from some recent statistics—35 percent of wages and salaries this year come from social welfare benefits such as Medicare, Medicaid, Unemployment, Social Security and Welfare.
It is certainly fascinating to see that people are still decrying the evils of capitalism when more than one-third of all wages and salaries are actually socialist distributions. We can’t even call them “transfer payments” anymore because the money isn’t being taken from anyone prior to being distributed, it is being created through credit expansion.
Most Americans recognize that having the federal government pay 100 percent of the nation’s wages and salaries is not possible. At this rate, it will have to pay 50 percent or more by 2020, which I note tends to correspond nicely with my long-standing prediction that by 2033, the U.S.A. will no longer be an independent, sovereign nation. [One-third there – Vox Day]
And Vox is not alone:
The question is: what happens when the money runs out? And the money is running out. America’s welfare state and government employment/pension spending now comprise at least 62 percent of the annual budget (6 percent more is merely interest payments on the national debt). These numbers are slated to increase as our population ages and more people retire. Ten thousand people per day are hitting retirement age. Medicare and Medicaid expenditures have nearly doubled over the past decade.
Socialism leads to economic decay. The physics of a decaying economy is like the physics of a dying star: it can explode outward or collapse inward. Since there are no more worlds to conquer, the economy can only collapse inward, as it has in Greece, Ireland and Spain. Who, then, will support the angry masses that march for their “pay” checks?
No one. The coming economic storm will be cataclysmic in its effects. Governments may topple. The population may suffer. This is the legacy of a left, which has purposefully grabbed a tiger by its tail and promised it slabs of raw taxpayer meat. Eventually, the meat will run out, and the tiger will still be hungry. [The End of the U.S. Economy – Ben Shapiro]
What we’re seeing here is predicated on things continuing to get worse—that’s granted—but what we all need to realize is that there’s no guarantee that the America we know will last until the return of Christ. There’s nothing in the Bible about the U.S.—Christian nation or not. Many other great civilizations have risen and fallen, and it’s possible that America could be overtaken. What that would look like, I can’t say, but the English on this continent have already had 3 different governments… There’s nothing preventing a 4th.