On April 15-16, The Wall Street Journal posted a chart, compiled by the Committee for a Responsible Federal Budget think tank, of how our tax dollars were allocated in 2016 compared to five years ago.
Of particular interest is that out of every $100 you paid in taxes, these amounts were allocated and the increase over five years ago noted: Social Security (including disability), $23. 61 allocated, an increase of 17 percent; Medicare, $15.26, 15.1 percent; Medicaid $9.55, 25 percent; interest on the debt, $6.15, 1.8 percent.
These allocations total $54.67, more than 50 percent of each tax dollar. Over the past five years, Social Security, Medicare and Medicaid have each risen more than 15 percent.
And as we are now more than $19.88 trillion in debt and interest rates are expected to rise that figure can only go up.
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This is the dilemma the president and Congress face. We need to ponder this when we hear the pleas to give more to entitlements. How much more are you willing to commit? John Kennedy, in his inaugural address, reminded us, “Ask not what your country can do for you, but what you can do for your country.”
Anna Lee Demaree