May 26, 2017
On May 10 we bought GASLog symbol GLOPPRA. Yesterday we noticed the following analysis on the Company. It is still not too late to buy this position.
Margaret Thatcher once said that the problem with socialism “is that eventually you run out of other people’s money”. As you will see below, the combined enrollment in America’s four largest safety net programs has reached a staggering 236 million. Of course that doesn’t mean that 236 million people are getting benefits from the government each month because there is overlap between the various programs. For example, many Americans that are on Medicaid are also on food stamps, and many Americans that are on Medicare are also on Social Security. But even accounting for that, most experts estimate that the number of Americans that are dependent on the federal government month after month is well over 100 million. And now that so many people are addicted to government handouts, can we ever return to a culture of independence and self-sufficiency?
On Wednesday, CNN ran an editorial by Bernie Sanders in which he called President Trump’s proposed budget “immoral” because it would cut funding for government aid programs.
But is it moral to steal more than a hundred million dollars from future generations of Americans every single hour of every single day to pay for these programs?
There will always be some Americans that are unable to take care of themselves, and we should want to help them.
But as millions upon millions of Americans continue to jump on to the safety net, eventually we are going to get to the point where it is going to break.
As I mentioned above, the combined enrollment in the four largest safety net programs has reached a new all-time record high…
–More than 74 million Americans are on Medicaid and CHIP (Children’s Health Insurance Program).
–More than 58 million Americans are on Medicare.
–More than 60 million Americans are on Social Security.
–Approximately 44 million Americans are on food stamps. And even though we are supposedly in an “economic recovery”, this number is still dramatically higher than the 26 million Americans that were on food stamps prior to the last financial crisis.
When you add the figures for those four programs together, you get a grand total of 236 million, and that doesn’t even count any of the other federal programs which are helping people.
Once again, there is overlap in enrollment between these various programs, but even accounting for that most experts believe that well over a third of the country is currently receiving benefits from the government each month.
How far down this road do we have to go before people start calling it “socialism”?
BOOKS: Shattered. Coming in at 464 long long pages, the new Hillary book Shattered makes for fun reading.
So why would anyone want to read about the election six months after the fact.
Well I guess when you DESPISE the crooked Hillary (and Bill—and Obammer for that matter) as much as we do, we love to learn more about the failure of the first female president’s campaign.
Shattered is the detailed behind the scenes look at the Hillary campaign. For those political junkies out there, this is a must read. (Read the last chapters first!!)