Former Federal Reserve chairman, Alan Greenspan issues a warning about the United States' inability to curb their entitlement spending. Greenspan says that the economy will "fade very dramatically" because of the burden of the socialist policies already in place: entitlements.
Many economic analysts have been warning about the level of spending on Ponzi schemes such as social security and other government handouts for decades. But whether Americans want to believe it or not, reliance on the government should be culled and for their own good. People lose the will to even want to do better in most cases when a check is handed to them because they exist.
In an interview with CNBC, Greenspan finally said what needed to be said and those shocked by this claim were the one who needed to hear it the most. The government is $22 trillion in debt. The gravy train will derail at some point. Economic growth won't last as the U.S. labors under the burden of growing entitlement programs, former Fed Chairman Alan Greenspan tells CNBC. All this as communists call for "Medicare For All" a massive program full of heavy taxation, tyranny, control, and of course, entitlements.