by Jeff Hymas
Last week I was surprised by two statements. First, a prominent conservative business leader in our community told me, “Medicaid expansion is fiscally responsible because, after all, it’s free.” Second, Governor Mead in the State of the State address said at least three different times, “Wyoming federal taxpayer dollars are being left on the table and sent to other states.” Let’s analyze these statements from a global, national, state and local level.
The global wealth of the world is estimated at $180T. The unfunded liabilities of the U.S. (chiefly Medicare, Medicaid, and Social Security) are estimated at $200T. In order to keep pace with paying for these entitlements and discretionary spending – like defense – the U.S. is borrowing $582B per year. When you do the simple math this breaks down to $1M per minute. Just to be sure you caught that, the United States is spending more than it takes in at a rate of one million dollars per minute! This isn’t a Republican/Democrat issue. It’s an American issue. The non-partisan, justifiably supported opinion of most people in Wyoming and in Teton County is that our federal government is simply out of control.