- The Foundry: Conservative Policy News from The Heritage Foundation - http://blog.heritage.org -
The 2010 Index of Dependence on Government
Posted By Patrick Tyrrell On October 13, 2010 @ 8:00 pm In Ongoing Priorities | Comments Disabled
The Heritage Foundation’s 2010 Index of Dependence on Government , published today, showcases the disturbing trend of Americans becoming more dependent on their government – via their fellow non-dependent tax paying Americans – than ever before.
The problem caused by unsustainable promises of entitlement benefits to millions of Americans will not go away of its own accord. In fact, the IMF predicts that U.S. public-sector debt (federal plus state) will equal 100 percent of the U.S. gross domestic product by 2015 unless the annual deficits are immediately cut by an amount equal to 12 percent of GDP. 100 percent of the dollar value of everything produced in the whole country will be owed! It is no wonder that so many Americans feel the need to turn this ship around.
The images coming out of France and other parts of Europe today and over the past few weeks are a harbinger of what the U.S. will eventually face when entitlement reform is eventually forced on us by the end of the long debt train line that America has been riding for so long. An army of dependents will be angry. The French workers who are being asked to retire at 62 instead of 60 years old are angry now. Who knows how millions of Americans will react if the federal government is forced to reduce the aid currently flowing from dependency creating programs.
It is better to cut spending by 12 percent of GDP per year today than to suffer the financial and political repercussions that will inevitably stem from delay.
Click here to read the 2010 Index of Dependence on Government .
Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2010/10/13/44821/
URLs in this post:
 2010 Index of Dependence on Government: http://www.heritage.org/research/reports/2010/10/the-2010-index-of-dependence-on-government
Copyright © 2011 The Heritage Foundation. All rights reserved.