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article imageRoss Perot Is Back With Economic Charts, Warning People About Entitlement Spending

By Dave Giza     Jun 15, 2008 in Politics
Starting today, people can go to and an announcer with 35 charts will explain the fiscal crisis that the United States faces regarding the uncontrolled growth in Social Security, Medicare and Medicaid spending.
Ross Perot is nearly 78 years old now and he has come up with a new venture on an old theme. He has invested $300,000 of his own money (chicken feed to the Dallas billionaire) to launch an educational website entitled which shows an announcer explaining how the fiscal crisis in America is due to the huge growth in entitlement spending.
This is an old theme for Perot. The diminutive Texan used charts and graphs during his first presidential campaign against incumbent Republican President George H.W. Bush and Democratic Party challenger Bill Clinton to illustrate the huge federal budget deficits of the 1980s. These economic infomercials with Perot personally using many charts and graphs with his famous ''voodoo stick'' helped him gain 19.7 million votes or nearly 20 percent of the total. Although he didn't win any states, he received more votes than any third-party or independent presidential candidate in the nation's history.
Bill Clinton ended up winning in that pivotal 1992 campaign and abandoned his promise of middle-class tax cuts to work on the federal budget deficit. Within a few years, the United States had budget surpluses despite raising taxes on corporations and wealthy people.
During the 1992 presidential campaign people were concerned about the federal budget deficits and the spending in entitlement programs primarily because of Social Security, Medicare and Medicaid. In October 1992, 63 percent said that they worried quite a bit about budget deficits and believed that they would grow in ensuing years if something weren't done to reduce them and 17 percent worried about them a good amount of the time. Now, it's much different. ''Current polls show that less than 1 percent of the voters call the budget deficit one of the major problems facing the country.''
The Bush White House and the Democratic Congress make rosy economic predictions that claim to balance the budget by 2012. These are foolish and aren't based in reality.
Just by identifying the problems, Perot's website is doing more than Barack Obama and John McCain. Social Security, Medicare and Medicaid must be on a secure financial footing or our standard of living will immeasurably decline.
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