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.