Janet Yellen sees Nothing Wrong with Massive Entitlement Spending

by: Brent Smith at the Common Constitutionalist

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In 2015, about 65% of the entire federal budget of $3.8 trillion was spent on entitlements like Social Security, Medicare, Medicaid, housing assistance, and such. But this can’t possibly be the cause of the national debt and permanent deficit spending. No – of course not. It’s the Trump tax cuts that are killing us. The fact that they’re only months old is completely immaterial.

The socialist Nanny-State has been constructed over a period of about 80 years, where as tax cuts have been few and far between, happening only four times since JFK initiated the first. Yet are we expected to believe that it is not entitlements which are blowing up the budget, but tax cuts.

Now what idiot would believe such a thing? Unfortunately, considering the source of the claim, many will tend to believe such a ridiculous assertion.

And the source is none other than Janet Yellen, former Chief of the Federal Reserve. She also served as Chair of President Bill Clinton’s Council of Economic Advisers – so she’s got that going for her. read more

You Don’t Need to Work to Make a Living

by: Brent Smith at the Common Constitutionalist

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Have you ever wondered why America’s unemployment rate is so low.

Over the years, I’ve gone through the various methods the government uses to calculate the employment, or unemployment rate – the different categories like U-3 vs. U-6 and so on. Knowing the particulars of each, we are effectively able to prove what are crock the published “U3” unemployment rate is and how useless and misleading the most often used U-3 number is..

Within the U3 category, the government differentiates between being unemployed and not working. Well, that’s easy, you may say. Maybe those in the “not working” category are the stay-at-home-Mom types. My apologies to stay-at-home Moms, but you know what I mean.

You may think that but you’d be incorrect. The “not working” category are those who are so discouraged that they just stopped looking. They are not counted as being unemployed. Of course they are, but not according to the government. It’s why the unemployment rate is so low. It’s a bogus, or at best, a misleading number – and purposely misleading.

Logically then, one may ask just how all these millions of people have been surviving for all this time – sometimes years to generations, without employment – without a paycheck?

Well, they may not be employed, but they sure receive a paycheck, of sorts, courtesy of you and me. In fact, in some States, families bring in more money through 126 government “entitlement” programs than they would earn if employed.

I’ve personally heard more than a few times from prospective employees, that, “I can make more money on government benefits than I can working for your company.” It’s called a perverse incentive, and boy is that right. As bad as this sounds, it’s actually worst than most people think.

In the video below, Michael Tanner, Senior Fellow at the Cato Institute, explains just how out-of-control the “entitlement” system in America has become.  read more