Most of the federal government’s spending is for programs lumped together under the term “transfer payments.” Nowadays, that term seems to be preferred to that of “entitlements,” which comes bogged down with theory. But regardless of whether they’ve been earned or are strictly welfare, the main thing about transfer payments is that they require most of the funds coming into the federal government to be immediately sent right back out as benefits to individuals. Transfer payments make up the so-called third rail of politics. Politicians will not go near transfer payments for fear that voters will electorally electrocute them out of office. So programs in dire need of reform or which suffer billions of dollars in fraud continue on their merry way unchanged. What should concern Americans is how huge this aspect of the federal government is becoming. In 2014, Investor’s Business Daily ran “70% Of U.S. Spending Is Writing Checks To...(Read Full Article)