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Sunday, February 05 2012 @ 12:52 PM CST

Welfare results in the 9/11 Commision report

Politics

Redhunter makes a good point, basically resulting in the privatization of welfare to some extent. While I was reading the 9/11 report I came across this quote that shows us an example in the Middle East in which the current state of our social security will lead us as well.

In the 1970s and early 1980s, an unprecedented flood of wealth led the then largely unmodernized oil states to attempt to shortcut decades of development. They funded huge infrastructure projects, vastly expanded education, and created subsidized social welfare programs. These programs established a widespread feeling of entitlement without a corresponding sense of social obligations. By the late 1980s, diminishing oil revenues, the economic drain from many unprofitable development projects, and population growth made these entitlement programs unsustainable. The resulting cutbacks created enormous resentment among recipients who had come to see government largesse as their right. This resentment was further stoked by public understanding of how much oil income had gone straight into the pockets of the rulers, their friends, and their helpers.

The 9/11 Commission Report (*.pdf) - 2.36MB

We need to watch out as this could result in dire consequences with the current situation we have here in the United States.

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