this post was submitted on 13 May 2025
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They cost physical capital. They generate political capital, as they create a consistency that will support the politicians who support the program.
Social Security / Medicare are the Ur-examples. Enormous constituencies that love to punish politicians who in any way threaten their benefits.
All historical evidence to the contrary... it's a nice theory.
Have they? Really punished those politicians who threatened to slash the benefits? Because I've seen lots of threats of slashing and no punished politicians yet. I do hope we get to that phase in the next election, but the threats of slashing were made loud and clear before November 2024.