The Entitlement Cliff

http://dailyreckoning.com/the-entitlement-cliff/

Why were so many more people suddenly disabled? Was there a plague that struck the nation? Were millions crippled in a nationwide auto pile-up? Of course not. Instead, in a low-growth economy, $1,000-a-month without working had begun to look pretty good.
“You get what you pay for,” said Milton Friedman. You pay people to be disabled. You get plenty of them.
Everybody’s worried about the fiscal cliff. But there’s a much bigger cliff coming up, and it’s the “Entitlement Cliff.” In the four years since Obama took office, entitlement participants have grown exponentially.