Broke : The Plan to Restore Our Trust, Truth and Treasure By Glenn Beck

This summer Laurence Kotlikoff (an economist at Boston U) published an estimate of the total debts and obligations of the US government: 202 trillion dollars- we ARE broke. The main sources of this gargantuan debt are the major Federal entitlement programs: Social Security and Medicare. The scary facts of Federal financial mismanagement discussed in this book have come out just in time for Halloween. The most obvious question to those interested in history is how did we get into this mess? GlenBeck proposes some answers in his new book. In 416 pages Beck recounts numerous historical examples (mainly in the first part of this book) of our drift from limited constitutional government, and towards unlimited government- which in our case came to mean unlimited spending. Washington politicians have been promising us more and more over time, mostly in the form

of so-called entitlements. Washington politicians have hid their recklessness from us with these unfunded entitlements, well at least from most of us. Economists like Kotlikoff, and also Martin Feldstein, have been warning us about these fiscal imbalances for decades. Now the total sum of these legislated promises is more than American taxpayers can possibly pay. The establishment of entitlements and increased spending in general was done in the name of `progressivism’. Now these supposedly progressive programs threaten future economic progress.

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