Entitlements – Welfare and Unemployment The United States has a significant, current and growing problem with entitlement spending, particularly the federal portion.
Disaster Relief Blows Away
Adding taxpayer insult to personal and business injury, hundreds of millions of dollars have been squandered in an effort to help those affected by the unprecedented storm.
Another Deficit Driver: Contractor Pensions
Since the 1980s, private companies, the federal government, and several state governments have eliminated the uncertainties and risks associated with managing defined benefit pension plans (low interest rates, stock market declines, and an aging work force) and have migrated to defined contribution retirement options. However, many companies that contract with the federal government have continued to offer defined benefit plans, in part because the investment risks are absorbed by the taxpayers through reimbursements for pension shortfalls.
Disability is the New Welfare
The two primary federal disability insurance programs, Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI), provide assistance to individuals with disabilities. SSDI is funded through payroll taxes and can be supplied on a permanent or temporary basis. SSI is a means-tested program for low-income individuals and is funded through general revenues. While tested enrollment in both programs has increased, the precipitous rise of SSDI beneficiaries is a more expensive proposition.
Time to Get Real with Federal Property
The federal government has many addictions, including profligate spending, wasting money, and regulating the private lives of citizens. In such an environment, certain excesses are to be expected. But when they develop, it is important that they be quickly reined in. In the case of real property acquisition, the federal government’s addiction has gone on for far too long.
Got jobs?
For all the hand-wringing since March 1 about the sequester and the Obama administration threatening to furlough thousands of federal employees and contractors, thus marking the end of civilization as we know it, you would be happy to know the federal government is still hiring people.
Government Waste TV
There are more than enough egregious examples of mismanagement and inefficiency to create “Government Waste TV.”
IRS Spent $60,000 on Star Trek and Gilligan’s Island Parody Videos
If you thought that there couldn’t possibly be any other embarrassing details about federal agency conference spending, I regret to inform you that you were wrong.
Business as Usual in the Land of the Midnight Sun
Alaska has long received more than its fair share of federal funding.
Pay No Attention to Those Political Appointees Behind the Curtain
Recently, the Washington Examiner’s Paul Bedard informed readers that President’s Obama’s top political appointees make an average of $142,691 annually.