Once again, this is not meant to attack a political Party. Nor is it meant to be unnecessarily inflammatory. It’s just that I try to use language accurately, and the term for when someone deliberately tells a falsehood – especially to achieve a goal or advance an agenda – is called a lie. And, in this case, the President is lying when he says that the Federal Government is in danger of defaulting on its debts. Here’ I’ll show you the proof.
First, understand that Social Security, Medicare and Medicaid and all these social spending programs are not debts. They are entitlements. As such, they can be ended. We may not like this, but this is a fact. It is not a fact because I say so, but because – by definition – they are entitlements and entitlements are not debts. The same thing applies to Obamacare. They are not debts because no one lent us money to pay for them. They are entitlements because the government said they would give people money under certain conditions. And no, you didn’t pay into them like a retirement program. The taxes you pay thinking they go to these programs go into the general revenue. This is why people who understand these programs try to explain they are Ponzi schemes and wealth redistribution – nothing more.
So, now that this is behind us, let’s look at how much the Federal government has to pay in interest on our real debts: