Thursday, December 11, 2008
Bailout culture, entitlements, and filial piety
Ken Blackwell, of the Family Research Council (yup!) has a no-holds-barred commentary on p A21 of the Washington Times today (Dec. 11), “The looming retirement meltdown: On the road to bankruptcy”. The link is here.
He describes the “bailout culture” as “completely out of hand”, having added an average $15000 debt to every American. And he warns that all “long term entitlements” – Social Security, Medicare, and Medicaid” are underfunded by $40 trillion and that eventually huge benefit cuts even to existing retirees are inevitable.
Of course, look at the source. The writer looks forward to the return of a culture where people are circumscribed by the opportunities within their own biological families. A collapse in entitlements (most of all Medicaid) would likely return to the enforcement of filial responsibility laws or the Chinese concept of “filial piety” which would hit the people who did not have their own children particularly hard. I’ll just connect the remaining dots, Ken.