Time to raise taxes something fierce! Only suckers work for a living. People who could see the rising tide of socialism elbowed up for a prime spot at the feeding trough in DC.
Whoever doesn't know that the US social welfare system is a financial train wreck has been drunk for 10 years. A few years sooner is really irrelevent, the idea that these trust funds even exist is one of the dumbest accounting ploys ever devised, oh well I guess the average american dumbass buys it. This would be intersting to watch if I were on another planet looking over. Just as we are supposed to trim trillion dollar deficits, yes just trim deficits and not cut into 12 trillion plus in debt, along will come the enormous unfunded social welfare obligations and blow everything up further. Just part of the problem my american friends, have you checked out the absolutely shitty shape that state pension funds are in? How about those stellar pension funds for all those UAW retirees? More bailouts I would assume made with more debt. Ok so say we jack taxes way up, what's our return on that investment paying for 100 million people to sit at home and watch Jeopardy?
Don't worry, Trendy - they can't appreciate any facts that don't comport with their world view. It's known as delusion or denial, and is thought to be spread by a certain Larry Kudlow, who serves as the host for the virus. By the time my generation is in their 40s and 50s, I guarantee that the top 10% will have marginal tax rates of 45% to 75%, and that this 10% will pay close to 90% of all taxes in the U.S. A year ago, it was estimated that the U.S. had a projected 54 trillion in unfunded liabilities. One year later, that figure has grown by more than 10 trillion dollars. We are living in a bizarre time. Any minute now, rational people will just give up, drop acid, and stare at Salvador Dali paintings all day. The one thing I love about math is its precision and lack of emotion 'clouding the deal or analysis.' The math says we are headed for an implosion because of non-discretionary, mandatory budget items such as Social Security and Medicare. We will either end up with a revolt, and a society where those who are capable will reap and those who aren't will wilt, or we'll have an onerous, socialist state, whereby the capable are crushed to support the incompetent (not intentionally so, but incompetent nonetheless) or the lazy.
I predict decline into a poor socialist state, it has already been shown that you cannot touch SSI politically or the AARP parasites come out in droves. Knowledgeable people are resigned to a wait and see attitude because there is no political will, especially since liberals control congress, to do anything other than raise taxes. The rest of the voting masses can't do math or think that socialism is great.
i love the financial bridge these smucks created by funding current budget decifics with future obligations in the form of Treasuy bonds