The Most Magnificent Welfare Program of All Time? – LewRockwell.com

Always before, welfare state politics has been based on a specific strategy: “Benefits first. Costs later.” This is called front-loading and back-loading. The best examples of this process are Social Security and Medicare. The costs are now coming due for these two programs. According to Prof. Lawrence Kotlikoff, the back-loaded cost of the two programs is now in the range of $200 trillion, present value. But no one really cares. Those costs will be imposed in the future. Politicians care only about the immediate future, namely, the next election.

via The Most Magnificent Welfare Program of All Time? – LewRockwell.com.

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