Nathan Lewis – Time to Cut the Federal Government in Half

from Financial Survival Network

Noted author, fund manager and economist Nathan Lewis writes, “I think the time is coming for an idea that is so old that it is new again: cutting the Federal government in half. The idea is: cancel all Federal welfare-type programs, including all means-tested welfare programs (apparently there are over 150 of them), all healthcare-related programs including Medicare and Medicaid, all education-related, arts-related and housing-related programs, and anything else of this sort — in short, most everything except for the military, national parks, and maybe some public works. Social Security could eventually be reformed to a system of private retirement accounts, known as a “provident fund” system and in use today in over thirty countries. No “block grants” or other such schemes. Just terminate the programs. This would make State governments responsible for all such welfare-type programs, to do as they see fit, and to impose taxes appropriately to pay for them. Give them twelve months to get ready. States like California and Massachusetts would be free to introduce the single-payer healthcare system of their dreams, while other states, like Utah or Texas, might have more private-sector-based solutions. States are active in all of these spheres already.”

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