Heritage: End 'autopilot' spending or crash

Friday, April 20, 2018
 | 
Chris Woodward (OneNewsNow.com)

Burning moneyIt's 2018. Do you know where your tax dollars are going?

New information from The Heritage Foundation shows some people believe the bulk of their money goes to welfare programs, national defense and foreign aid.

In reality, however, Heritage analyst Adam Michel, who studies the federal budget and taxes, says health entitlements and Social Security are the largest programs.

"The majority of our tax dollars go to things that are on autopilot, things that Congress doesn't actually assess on a year to year basis," he says. "About 28 percent of the budget goes to Medicare, Medicaid and other health care entitlements like Obamacare, and then about a quarter of the budget goes to Social Security."

Those programs, he says, are the "main drivers" of U.S. debt and deficit problems going years into our future.

The conservative Heritage Foundation predictably warns the problem may get worse.

"As we sort of step out further and further in time, there are more people drawing on these benefits than people paying into them," Michel warns. "People have been promised benefits that are more generous than ultimately what they paid in."

Asked the predictable next question – how does Congress address these spending matters – Michel says lawmakers need to start talking about the situation.

"Because members don't assess them on a year-to-year basis, or even any sort of recurring basis," he says. "They just have promised these benefits and they are set on autopilot to grow at infinitum."

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