What compassionate socialism can do

Assuming a more conservative figure of total debt outstanding of $55 trillion in the U.S (Lawrence Kotlikoff of Boston University says it’s more like $200 trillion), this equals $681,165 in debt per U.S. family. This is where that faux “compassionate socialism” has led us.

There is not only no way to repay this, there is no way to even a way to service this debt, given that the mean family income is around $50,000 per year. If interest on this debt were, say, 5 percent, this would cost that typical family $34,000 year.

This is where the free lunch society has led each of us. This is what will destroy not only your economic life, but that of your children and grandchildren. This what started back under LBJ and his “War on Poverty,” which has now left us with even more poverty than back then, but took perhaps $9 trillion to implement.

Meanwhile, for example, Obama’s big finance buddies just awarded themselves $144 billion last year for their great work in destroying the economy, and the leftist icon John “Why Won’t He Spread the Wealth Himself?” Kerry docked his new $7 million yacht “Isabel” in Rhode Island to avoid paying $500,000 in taxes to his home state, socialist Massachusetts. (for $437,500 in one-time sales tax. He would also have to pay $70,000 in annual excise taxes).

Oh yes, the CBO just revised the 2011 deficit for 2011 to $1.645 trillion, which is up from an earlier estimate of $1.4 trillion, which itself was revised a month ago from Obama’s projection of $1.267 trillion in December. A quarter trillion here, a quarter trillion there, and pretty soon you’re talking real money.

Socialism destroys wealth, which in turn destroys real lives and real people. This is why I am an ex-leftist.

Jim Vanne

Aurora