Newsmax reports:
Economists and pundits are beginning to sound alarms that the U.S. economy is perilously close to a “tipping point,” where so many voters will be on the public payroll it will be politically impossible to reign in entitlement programs.Imagine that.
The trillion-plus Obama stimulus program, they warn, could push the economy over the brink.
Already, 40 percent of Americans don’t pay taxes. Obama’s stimulus gives non-taxpayers up to $1,600 – money they did not pay – in the form of a tax credit.
Putting millions more workers on the entitlement roles, either through universal health insurance or the expanded SCHIP health program, will further diminish support for future free-market reforms to make the U.S., economy more competitive, conservative economists warn.
