The article below refers to a couple of letters from the Chief Actuary at the SS Admin showing we are closer than we thought to going bankrupt from SS deficits. http://brucekrasting.blogspot.com/
Great post. Since SSA comes from paychecks, I imagine the latest numbers take into account a reduced contribution due to the permanent job losses. If you think this is bad, wait until you see how large the deficit balloons since there will be reduced tax revenue due to job losses.
We're witnessing the Rise and Fall of the Great American Empire. A country can only run for so long on perpetual debt. Just amazing how Congress has raped this fund.
The US is going to be a Venezuela. I say load up on real assets, trade like mad, make a boatload of dough and when the poor leftist masses are at your gates demanding their share, fly out in helicopters with a merc army blasting the crowd with fifties and detonate the place and the gates... buy a newspaper business on the cheap so you can publish stories about how they burned your place to the ground and what a victory it was for the left...
What a bunch of fear-mongers. No matter how much I might despise Obama and his policies, the country's going to be okay. No Venezuela-conditions or whatever. Great article.
And add to that our coming government health care system. The only way this is going to work in a few more years is if we give the government our entire paycheck and the government gives us our healthcare, food, gas and basic needs. Oh, and our car manufactured at GM (Government Motors). Of course, all this assumes Obama doesn't get us nuked because his military, security cuts and appeasing our enemies. If somehow we survive all of this it will only be because those of us who are scared from what we see happening speak up and make things change before its too late.
Yeah, bring back the Bushies who did such a great job nurturing a thriving economy, maintaining a stable financial system and improving our quality of life! Gimme some more Dick and Bush!