In order to play to the base of the Socialist Party, Presidential Candidate Hillary Clinton is proposing a Trillion Dollars in new government spending for Infrastructure and Entitlements over the next ten years. This at a time when Social Security and Medicare are headed toward insolvency with 78 million Baby Boomers retiring. At the same time, ObamaCare numbers with expanded Medicaid were all smoke and mirrors. The cost for ObamaCare, assuming it is not repealed sooner, is likely to be a Trillion dollars more than originally projected.
And, Hilly says she can do all this new spending by just closing some loopholes on business and raising taxes on the top 3% of income earners. Really!! The top 3% of earners already pay most of the income taxes in our country, while a majority of Americans pay none. When Obama thankfully leaves office, our National Debt will be $20 Trillion with no end in sight on the books. There is local, state and federal unfunded liability for perhaps as much as another $150 Trillion for public employee pensions and all the borrowing that has been going on for years. The total assets of all wealth in the country is about $120 Trillion. If everything everyone owns, including monies in the bank, were confiscated, it would not be enough to deal with all this Debt.
One of the reasons Socialists, never stop talking about Climate Change is that they want to tax carbon as a new source of government revenues. They know that they can't tax Americans enough to do everything they want to do in Entitlements to keep buying votes, so a Carbon Tax is the answer. Only problem is that a carbon tax will hit the poor and middle class the hardest, since the higher cost of utilities that would be the end result of a carbon tax, would be passed on to all Americans. It is also a job killer so even more people on Welfare and Food Stamps.
So when Hillary Clinton talks about a Trillion Dollars in new spending in the next ten years, hold on to your wallets because one way or another she is coming after you to pay for this new spending. But more important, the country will face economic collapse long before because no where in this plan is there any way to pay off our National Debt and or to deal with all the unfunded liability that currently exists. Buy Gold and Real Estate because at some point the FEDS will have to start printing worthless money to cover Entitlements. There is no other way. And, when that happens, we will see very high inflation and interest rates, which again will hit the poor and the middle class the worst.