a huge insurance company with an army

“The basic picture of the federal government you should have in mind is that it’s essentially a huge insurance company with an army; Social Security, Medicare, Medicaid — all of which spend the great bulk of their funds on making payments, not on administration — plus defense are the big items. Salaries aren’t.”

If you don’t believe me, ask Fiscal Fantasies – Paul Krugman Blog – NYTimes.com.

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