This Is Not Your Father's Country Anymore
"The interest on the national debt will approach $500 billion a year this year or next. Our country is sinking into the quicksand of insolvency as surely as the victims of subprime mortgages who have lost their jobs and their houses and watched their savings evaporate in the stock market decline.
The current national debt is soaring past $12 trillion. The costs of the stimulus packages and bailouts (and stimulus package is just another word for bailout) are being tacked on and passed on because they are being paid for with money we don't have.
We are staring at unfunded liabilities for Medicare and Social Security in the tens of trillions of dollars. Where's that money going to come from? We have to either raise taxes or cut benefits. There are no other options.
The baby boomers are starting to retire and will consume an ever larger share of these entitlement programs. They will also age in sufficient numbers to drive the political agenda for the foreseeable future. Think they're going to want less Social Security and less Medicare? Think again.
The generation coming along behind them that will be asked to pay for all this can't. There are not enough good jobs left in this country to pay those kinds of bills.
At the end of the day, we are going to have to settle for less. Less money, smaller houses, smaller cars and smaller dreams.
This is not your father's country anymore. And we had better all start getting used to it."
posted by nolocontendere at 9:55 PM
2 Comments:
I don't believe the Boomers will drive the political agenda...they (we) never did. When we were young we were sent to Vietname. When we started to work, they brought in huge numbers of immigrants to keep salaries down (particularly of women); when we started families, housing prices and mortgage rates shot through the roof; income taxes doubled. When we were in our prime earning years, there was downsizing, layoffs and the destruction of unions. Now that we're ready for retirement, they're doing the ultimate "controlled demolition" to make sure we can't retire to any degree of comfort. We will have to scrimp and maybe even eat cat food like the urban legends of old.
There will be no 'golden years' for what the corporatists and globalists will view as 'useless eaters'. There will be waiting times for medical care, taxation harassment to make us sell our homes; and, dare I say it? "Methods" of shortening our lives via "diseases" and "pandemics"...if that can finally get THAT one off the ground.
gc
Good points. I actually have no idea what he meant by "driving the agenda", because all the rest of his doomsday rant cries out that the broken system is out of control, which it is.
I'm wondering if others have the same morbid fascination that I have watching the collapse unfold.
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