Sunday, June 20, 2010

Why theTea Party Movement Will Not Reverse the March to Federal Bankruptcy

This is simpler than you might think. No need to speculate on what success the "tea party" movement might have; even if they took over the Republican Party, or, more unlikely, started a successful third party that gained power, they would not and could not prevent the disaster that awaits us when the Federal spending bills come due.

Who makes up the tea parties? Are not huge numbers of the participants retired people or those of a mature age? What is sacrosanct with such individuals, regardless of their political affiliations and persuasions?

Can everyone repeat after me "Social Security and Medicare".

When it comes to their own pocketbooks, even the most fanatical anti-government tea partier loves Federal spending and social programs and dreads any idea of "reform".

Some points by Gary North:

  •  Oldsters vote at a higher percentage than any other age group.

  •  The oldsters' lobbies are greatly feared on Capitol Hill – probably more feared than any other.

  •  The oldsters vote as a monolithic bloc on the twin issues of Social Security and Medicare.

  •  Congress knows that these twin issues are the third rail of American politics. He who touches it dies.

  •  Oldsters are the dominant bloc within the Tea Party.

  •  The Tea Party movement will not challenge Social Security and Medicare.

  •  The Tea Party movement is therefore impotent to reverse the march to Federal bankruptcy.

-101 Thoughts on America's Economy

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