The bigger problem is that we have nincompoops in Congress without the testicular fortitude to tell the truth about the train wreck awaiting us (or, they are too ignorant of basic economics to see it).
Bernie Madoff was a rank beginner compared to the Ponzi scheme of Social Security & Medicare -- $100-plus Trillion-with-a-T of unfunded mandates and a "trust fund" that was raided for general operating expenses decades ago. When it comes to buying their way back into power by stealing the people's money to spend on pork and special interests, nothing beats a politician. And BOTH parties have been guilty. And WE have been guilty as well -- asleep at the switch, not paying enough attention, and not voting the self-serving bums out regularly.
The debt, the deficit, the unfunded mandates, and the Fed monetizing that debt more every month, is a recipe for horrendous disaster.
It's not enough tax receipts (NOT "revenue" which implies they somehow _earned_ it, which they did not), it's too much spending. The Federal government is only supposed to take care of the big-ticket items - defense, border control, international relations - and everything else is to be done at the state, local, and personal level. Out of control spending must STOP, now. The government must live within its' means - just as the rest of us do. And we have to pressure the new Congress to keep their intentions to stop the hemorrhage.
Don't now accuse me of not wanting to help the unfortunate. They are one of the prime reasons FOR limiting Federal power. Who has done more to help children stricken with cancer - the NCI (part of NIH) or St. Jude's Hospital? Which one runs more efficiently? Which one's function can be usurped by another outside group IF they get too big/bureaucratic/inefficient to work well -- thereby giving them strong incentive to stay flexible? If you have $100 to give to one of them, where will your $100 do the most good for the most sick kids?
According to the government's own charitable giving guidelines, one should refrain from donating to a charity if less than 85% of funds raise go to the charitable purpose. Is there ANY government bureau/organization where as much as 50% of the funds go to the "social support" service? By their own standards they do not deserve funding.
I am a libertarian because I believe in individual liberty and the responsibility of individuals to help those in need. One cannot foist those responsibilities off onto government (or have government usurp them) without seeing incredible amounts of waste and fraud and a worsening of the conditions that were supposed to improve. Every iota of power the Feds take, every scrap of personal responsibility they "relieve" us of, hurts every one of us - the poorest and most needy worst of all. They must be reined back to their Constitutional limits. I can be done -- but it took a hundred or more years to deteriorate this far, and it's going to take decades to fix.
Is it worth the effort? YES. Because this is still the ONLY nation in the world founded on the principle that power is sovereign in the PEOPLE, and that the government is OUR servant - not the other way around. I bow to NO man, and NO government, now or ever.
Enough with the rant; I have 941's, W-2's, and 1099's to prepare.
Catherine