Government Waste Is Just the Tip of a Massive Federal Spending Iceberg
Senator Mary Landrieu (D–LA) recently stated, “I am not going to keep cutting the discretionary budget, which by the way is not out of control, despite what you hear on Fox News.” I got to join Fox News’s Eric Bolling in a segment of “Your World with Neil Cavuto” to set the record straight.
From the Environmental Protection Agency awarding a $140,000 grant to study Chinese swine manure to the National Institutes of Health funding studies on the hookah smoking habits of Jordanian students to the Department of Agriculture funding a $20 million reality TV show in India to promote U.S. cotton to a country that is a net exporter of cotton, government waste in the discretionary budget abounds.
But that’s just the tip of a massive iceberg of federal spending. Spending on entitlements is the main driver of the accelerating U.S. spending and debt crisis. By 2025, Social Security, Medicare, Medicaid, Obamacare, and net interest costs will consume all projected tax revenues.