I HATE it when the MSM says the US is $8 or $9 trillion in debt. We're $52 trillion in the hole (as of today, and that number gets bigger and bigger every second).
Bush (and Clinton, and Bush, and the jokers before them) are lying to you. Congress is lying. Everyone running for president is lying to you (except Ron Paul of course). You're being taken for fools.
Well, not HP'ers. You all should know the truth now. And it should scare you and it should infuriate you.
THERE SHOULD BE A REVOLUTION IN THE UNITED STATES. THERE SHOULD BE OUTRAGE. AND TRUST ME, THERE WILL BE SOON BECAUSE GEN X AND GEN Y ARE NOT GOING TO PAY FOR THE BOOMERS' RETIREMENT AND HEALTH CARE. THE PONZI SCHEME WILL END, BY FORCE IF NOT BY CHOICE.
Watch this GREAT report on 60 minutes with Walker. Finally, some MSM coverage for him and this unbelievably important issue that nobody wants to talk about and nobody wants to do anything about.
Thanks Doom for the link.
January 20, 2008
US Comptroller General David Walker at the GAO (home of the $52 trillion stat) is HP's hero. He's speaking out now, and people better f*cking listen.
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This guy has been saying this for 5 or more years,it is about time you HPers have noticed.
Better late than never I guess.
Shoot straight and keep your powder dry.
Nobody really wants to hear what he is saying....... we are F'd!
F@ck him, give me money!
Vote DEMOCRAT and all will be well.
"GEN X AND GEN Y ARE NOT GOING TO PAY FOR THE BOOMERS' RETIREMENT AND HEALTH CARE. THE PONZI SCHEME WILL END, BY FORCE IF NOT BY CHOICE."
Not so fast.
Gotta remember GenX and GenY were taught in publik skools run by unions. And then taught in college by grown up hipper professors. These unions/profs brainwashed the GenX/GenY students into expecting gubermint to wipe their ass from cradle to grave.
GenX and GenY is voting for Hitlery and Osamabama. One of those two will be next next president. And they will have hufe Democrat majorities in Congress to do as they please. All Hitlery and Osamabama do is promise even more spending on health care and retirement. They are tripping over each other on who will spend more and faster.
Ron Paul is the only guy out there talking about these issues. And he's getting 5% support. I didn't expect him to win, but I was hoping for at least double digits. The fact he is a non-entity shows you where people's priorities are right now.
The left wants to turn us communist. The right wants us to praise Jesus 24/7.
We are so fucked.
The problem with government is that tax dollars are wasted on people like this with negative attitudes.
Fire this idiot and send me my $800 government check!
I really like what David Walker has to say, he's not holding anything back, it's nice to hear the truth for a change.
There are a few but wildly unpopular fixes for these problems,
1. raise the cap on SS taxes, and then not allow the funds to be raided to balance future budgets.
2. lower the capital gain threshold for housing profits. I'm not sure what it should be lowered to but something is better than nothing.
3. get rid of the child tax credit. Sorry but that alone with gain the government billions in the first year.
maus
I have argued about this with various "educated" coworkers, but they refuse to even consider what is really going on. The idea that the entitlements they have been promised won't be delivered by our intelligent and benevolent socialist leaders is unfathomable.
Most of them believe that there will be a steady stream of wise investment choices by the government (picking the right stocks, I suppose?) that will bail us all out.
Most of these are people who work in state government (higher ed.) and will start claiming their pension benefits in the next few years from a ponzi scheme (Colorado PERA) that is already bankrupt. Most states have their own entitlement programs for their employees that replace Social Security, and they will all either be slashing entitlements in the next 5-10 years, or bankrupt and bailed out by taxpayers.
Protect your assets from the millions of greedy entitled boomer hands- they will all want your cash to pay doctors for their antibiotics (attention) every time they get a cold virus.
Speaking of Ron Paul - they guy places 2nd (albeit distant) in Nevada and noone says a word. Normally the MSM report on the top 2 or 3 candidates in each state but this time they mentioned only Romney.
I'm not saying it's definitely a conspiracy, but the effect is the same. How can Ron Paul hope to do well when all the other candidates get free press coverage and Ron Paul is only on tv when he has paid for the commercial.
Like David Walker's message, Ron Paul's is a truth too inconvenient for anyone to talk about.
THERE SHOULD BE A REVOLUTION IN THE UNITED STATES. THERE SHOULD BE OUTRAGE. AND TRUST ME, THERE WILL BE SOON BECAUSE GEN X AND GEN Y ARE NOT GOING TO PAY FOR THE BOOMERS' RETIREMENT AND HEALTH CARE. THE PONZI SCHEME WILL END, BY FORCE IF NOT BY CHOICE.
----------------------------------
Now we understand who the targets of Homeland Security will be. Hey, GEN X and GEN Y your grandparents sold you into debt-slavery for their almost FREE retirement benefits. The BABY BOOMERS did not choose this path; but since they were forced by their parents to pay a lifetime of ever increasing welfare-benefits taxes, they are going to fight tooth and nail to COLLECT. The Gov't will take it out of your hide and everyone who takes up arms in protest will be detained for life in the REX-84 forced labor prision system
brace yourself for higher taxes.
We also need to be alert to any
pressure that Walker gets from
the administration.
For national solvency, and many
reasons, we each need to take
moral responsibility for
preserving our own health.
(not necessarily our lifespan)
To be responsible to those that
follow us, basically we
should eat a wide variety of
less-processed foods, exercise at
least 30 minutes at least three
times a week, and maintain
dental health.
For older folks, and those in
poor condition, exercise might
mean water workouts and/or walking.
Spending less is also imperative.
Speaking of Ron Paul - they guy places 2nd (albeit distant) in Nevada and noone says a word. Normally the MSM report on the top 2 or 3 candidates in each state but this time they mentioned only Romney.
I'm not saying it's definitely a conspiracy, but the effect is the same.
-----------------------------
WHY BE AFRAID TO CALL IT LIKE IT IS?
Let's look up the word "conspiracy" in wikipedia.
Types of conspiracies:
Cabal, an association between religious, political, or tribal officials to further their own ends, usually by intrigue
Conspiracy (civil), agreement between persons to break the law in the future
Conspiracy (crime), agreement between persons to break the law in the future, in some cases having committed an act to further that agreement
Conspiracy (political), a plot to overthrow a government or other power
-------------
I would say that what the media did and continues to do to RON PAUL absolutly fits at least one of the above defined types of conspiracy.
I saw this guy talking on CSPAN, something like a year and a half ago.
That's about the time I started buying gold.
Coincidence? No.
Many people agree with Ron Paul on fiscal policy.
His problem is that his foreign policy would make the US irrelevant;
and we would have much bigger problems then just ‘money issues’.
We would be concerned about keeping our children alive.
The US does not live in a glass bubble.
The primary role of the commander in chief is to protect ‘all’ the lives of our citizens.
(Not only white Christian males)
I do not trust Ron Paul as commander in Chief!
First, you can blame Reagan and his conservative revolution for much of the debt problem.
Second, who gives a shit if this country goes down the tubes? The world would be better off.
third, I personally don't give a shit because I'm middle-aged and childless. As long as the shit stays away from the fan for 20 more years I'm fine with what happens after.
My whole life I've seen nothing but ignorance and selfishness while I stuck by the idealistic notion of a fair, contributory society. Meanwhile, I saw this country become deeply enamored with conservatism, a destructive, evil ideology. So now I've become a nihilist. Burn this motherfucker down.
tick, tick, tick, Ka BOOM!
Its' ALL OVER NOW.
You are F*CKED. Enjoy your day.
I have argued about this with various "educated" coworkers, but they refuse to even consider what is really going on. The idea that the entitlements they have been promised won't be delivered by our intelligent and benevolent socialist leaders is unfathomable.
Freakin too much. I run into people like that at the university. I tell them I plan on having to be completely on my own, for better or worse, and I'll be the one responsible for basics as simple as food, shelter, medical care (i.e., how to amputate, how to stitch), and they look at me like I'm delusional.
I don't understand how they can be so blind. We're completely on our own here, people. Simple fact. The Canadian near and middle North is looking better as time goes on. It just takes the right skills.
Again the NYtimes socialist Krugman gets it. A great article.
http://tinyurl.com/22qpm6
Let me tell you a good one.
I don't even read bitterrenters posts. I think it's funny that he spends his time writing and it's for nothing. An utter waste of time.
As effective as mumbling to himself in his demented haze.
Our US manufacturing jobs and products are gone forever.
There is no solution, except, to tax imports.
Then US manufacturing will rise again. More jobs = more home sales and consumer spending.
End of story.
Bravo - good to hear someone in government actually speak so truthly about this problem.
Re:
1. raise the cap on SS taxes, and then not allow the funds to be raided to balance future budgets.
I doubt this will matter, business owners are already abusing this by paying themselves less that their employees. You tell me, how many attorneys/accountants/doctors, etc. make $50,000 year in wages? Well that is all they report. I do understand their argument (they pay ordinary tax rates on the remainder) but come on man, isn't that a bit extreme? $50K for a salary for a professional with over 20 years experience?
Also, it is the same "professionals" that will be drawing SS in the next 5 - 10 years, bitching that their checks are too small. I see it everyday.
My solution, drop the estate tax exemption back to $1M, so when these boomers kick the bucket they can keep the Ponzi going.
The other option is to get rid of the anti-smoking brigade. Light up everyone, we don't want you living past 65-70.
THANK YOU POSTER!
Very Well Said. That makes at least two of us...
Other HPers stop and ponder the following. This would be a great and worthy breakout topic for the World HP Vegas debauchery.
"My whole life I've seen nothing but ignorance and selfishness while I stuck by the idealistic notion of a fair, contributory society. Meanwhile, I saw this country become deeply enamored with conservatism, a destructive, evil ideology. So now I've become a nihilist. Burn this motherfucker down.
January 20, 2008 5:38 PM"
PS: Look up nihilist if you (have a dictionary) have to. BETTER: Have your swinish progeny look it up. MAYBE they may learn something useful today until NASCAR comes on.
F*ck Joe Six-Pack. Idiots. Problems NOT solutions.
Second, who gives a shit if this country goes down the tubes? The world would be better off.
Yeah, a great place once the US is gone and the rest of the world is invaded and taken over by Islamic extremists, dictators of all varieties, etc etc.
Not to dismiss this -- it is a serious problem. But this guy said it himself, the problem is health care, not SS, not domestic discretionary spending.
Health care costs are relatively easy to control. And, sorry Keith and all you Ron Paul supporters, but the way you do it is you socialize the health care system.
There's a reason we spend twice per capita what every other "wealthy" country in the world spends on health care.
Our US manufacturing jobs and products are gone forever.
There is no solution, except, to tax imports.
Then US manufacturing will rise again. More jobs = more home sales and consumer spending.
End of story.
Or we could just let the dollar collapse. Same effect.
Relax, nothing is going to happen. Just send me and my family the $800 checks. Gold is not going to go thru the roof. Gold is a naturally occuring substance, just like dirt and diamond. It is everywhere, under the earth, in outer space, the universe. There is no real value to it, except to the damn stupid women. Copper is actually has more industrial use than gold but see how much it is worth. And by the way, dirt actually has more use than both gold and copper. Imaging what would happen if there is no more dirt. There would be no more food, one of the neccessary component for life. So by that reasoning, real estate is the only safe investment that you can count on.
The baby boomers paid for the preceding generation's retirements with the promise that their retirement would be paid for. Quid Pro Quo. Now you are calling on the boomer's kids to renig on this arrangement? How noble!
Well just remember 2 things --
1. If baby boomers don't get their SS and pensions they'll either be living off their kids, welfare, or take jobs. We're here baby -- and if we weren't here first, your snotty ass would never even have been born, moron.
2. However you treat your parents is how your kids will treat you when you're old. And you know the only alternative to growing old ...
Better start planning what City/County/State or Country to live in so they can't tax the sh*t out of you.
For example, the State of Oregon guarantees 8% on it's retirement fund;
"Oregon Tax Research (OTR) reports that retirees are guaranteed a minimum 8 percent return on their investment. If the public employee retirement system (PERS) investment fund falls with a slumping stock market, the retiree still gets 8 percent, even if the fund lacks the ability to pay. If the PERS investments expand with a rising stock market, the retirees get the extra funds added to their retirement. In addition, at retirement a 2 percent cost-of-living benefit gets added every year to keep ahead of inflation."
Watch for more US corporations, like Dick Cheneys Haliburton, to move their headquarters to places like Dubai to avoid the tax timebomb
It's amazing to watch the end of an empire. As we blog this country is being broken up like a dead corporation and it's divisions sold off. The military is the only thing the globalists have kept in one piece. They need their global police force.
ed,
Not so fast.. Not every Gen-Xer buys that crap..
I have always felt the the boomers were laying waste to my future. They've gobbling up all they could and screw everone after them. I can't stand it. It does my heart some good to see that their retirements will turn out to be far from what they expect. They won't all own vineyards in NAPA and Estates in Tuscany. They will be lucky to get a double wide in a shuffleboard just like their parents. Hitlery and OsamBama have nothing to offer me. I hear them promising the moon and the billions it will cost. It makes me irate.
Gen-Xer, Voted for Ron Paul.
I don't think I am the only one.
"Many people agree with Ron Paul on fiscal policy. His problem is that his foreign policy would make the US irrelevant;"
I'd say that Bush's foreign policy is make the US irrelevant since our politicians don't play nice; we're going to be the next empire that falls.
as "Ron Paul said," "I'd rather our empire to end gracefully rather than simply go down in flames." (paraphrased)
Logical...
"The baby boomers paid for the preceding generation's retirements with the promise that their retirement would be paid for. Quid Pro Quo. Now you are calling on the boomer's kids to renig on this arrangement? How noble!"
I can't say I'd blame them, they are already being told it will be all tapped out when the boomers get done with things.
Where is the incentive? Pay big taxes to support those that came before them, debted the country into a massive deficit and left mess, knowing that when it's their time the kitty will be empty?
You are right, You are here, it's your bed, you lie in it.
Got worthless dollars?
The reversal is here.
However you treat your parents is how your kids will treat you when you're old. And you know the only alternative to growing old ...
-------------------
good, then we'll treat you like CRAP just like you boomers disrespected your parents in your youth. Besides, we dont trust anyone over 30.
"The primary role of the commander in chief is to protect ‘all’ the lives of our citizens."
Bullshit. Craptastic Bush II pretends that's his job so he can screw with everyone's rights. The president's number one role is UPHOLDING THE CONSTITUTION. Read the bloody oath he/she takes and clue the f*ck in.
Ten years from now the same liberals who today advocate a secular, humanist, and diverse society, will be pushing the elderly and infirm into extermination chambers. Next, they will get rid of anyone who professes a faith beyond their tin gods in government.
"His problem is that his foreign policy would make the US irrelevant"
Yeah, perhaps so irrelevant that people wouldn't go out of their way to fly planes into our buildings...
Bush said,
"The US economy is strong. We have job growth. Our nation is a power house, and it's a great time to purchase a home. Just look at our strong US stock markets, banks and industries. Our trade gap is less then last year. Our home sales are rising and we have low interest rates. Our manfacturing bases are growing, our GNP is higher and we are growing at a good pace. Our banks and retailers are recording record sales and our oil and energy companys are producing record profits. The US economy is also protected from any type of failure from the strength of our our deep insurance companies. Wages are increasing, health care becoming more affordable, and a booming US economy where inflation is only at .01% for 2007. Our Iraqi and Afghanistan war costs (to protect our freedoms here at home) have come under control as the Iraqi people taste what a real American democracy and freedom of speech and press is all about. We also created special laws to give home owners fixed low interest rates that they deserve. I'll be awarding additional Presidential Medals of Freedom to several people who have helped keep America the strongest nation on the planet.
Also, next week, I'll be sending out checks to every American as a special gift, which will also boost and fix any problems in the American economy. God bless America, and we will continue to stop the surge of Al-Qiada, who will destroy America with missles if we dont kill them first. They are every where! Even in the US. We must issue a national security card, and everyone must register or will be arrested as a terrorist member. You will not be allowed a lawyer, and will have no rights. We will continue to destroy evil empires like Iran and Syria, and we as Americasn must pay the costs. We have set a new budget to produce 3,480 additional stealth bombers, 22,900 F-16's and additrional war equipment totalling $437 trillion. God bless all you christian jesus lovers that voted for Dick and I. We have enjoyed protecting America from evil doers. Thanks again and God Bless.
Ten years from now the same liberals who today advocate a secular, humanist, and diverse society, will be pushing the elderly and infirm into extermination chambers. Next, they will get rid of anyone who professes a faith beyond their tin gods in government.
uh, riiiight.
If anyone is going into extermination chambers, it will be at the hand of the big government corporatists, e.g. GWB and Huckabee.
You go! GEN Xers and GEN Yers. Bash the Baby Boomers some more! That's what the ultra-rich want you to do. Divide and conquer, I think they call it. Meanwhile, the ultra-rich will continue to rape all of us. Get a clue! For example, union membership today is at 1930's levels. You know, the Great Depression. Kinda makes sense. Workers have NO POWER, which is just the way the ultra-rich like it.
I am so angry thinking about the proposed stimulus package. Not only will it make our deficit worse, but it's a complete sham and fraud!
The reason for this stimulus pacakge is not to fix the economy. Even if everyone spent their tax rebate (and have you seen the polls? Most said they would either save it or pay down debt with it), it would only 'help' retailers. How does this fix the credit crisis? How does this help borrowers? How does this help banks and lenders? What about the mortgage insurers?
No, there is only one reason for the tax rebates... so politicians can say 'the recession is over.' If there is a momentary uptick in GDP in a fiscal quarter, then by definition, the recession is over (at least until two more down quarters go by, when it would technically occur again).
If the checks go out fast enough, politicians might even be able to say we avoided a recession.
What a fraud! People should be uprising against this! This package won't even address the underlying problems affecting our economy. But it will put us even deeper into debt...
People seem to be under-estimating the capacity of us GenX and GenY'er to slack.
Sure, the boomers have been mortgaging our future. But... we're just going to send those keys back in the mail. Why pay when your so far underwater?
Everyone my age ever expects Social Security and Medicare to fail.
The social contract will just need to be reworked.
ted nugent: stay in texas said...
Bush said,
---------------------------
Shakster asks........What would the NUGE do?HMMMMMMmmmm.
Not to dismiss this -- it is a serious problem. But this guy said it himself, the problem is health care, not SS, not domestic discretionary spending.
Health care costs are relatively easy to control. And, sorry Keith and all you Ron Paul supporters, but the way you do it is you socialize the health care system.
There's a reason we spend twice per capita what every other "wealthy" country in the world spends on health care.
You are correct. Even relatively conservative guys like me have capitulated. The employment-based insurance-company system for paying for health care in the USA is broken and the only solution is a national single-payer system.
The Sun outputs as much energy in a minute or so as was used in all of history. The Earth is a fusion-powered spaceship with a carrying capacity of billions (if you use it right). We're on a grand tour of the Milky Way.
But we can't afford food, clothing, shetler, education, and health care for all.
If instead of borrowing from the future in the form of treasury bonds, the government was to face up to current income versus expenses, then there would not be enough $$ to pay for what is being spent right now.
Remember those government shutdowns during Clinton? That was because the federal government needed more money than was in the budget, and the republican congress didn't approve increases.
Bush and it's rubber stamp congress got all the budget increases it needed.
The fact is, the federal government will keep increasing the amount of money it spends and will keep borrowing it from the future.
As long as all the other countries that buy US treasury bonds keep playing into the game then no problem.
This is all in addition to the underfunded/unfunded pension plans of the state/county/city governments which are coming under increased scrutiny from bond insurers. Of course the underfunded pension funds is the reason the fund managers jumped all over the subprime garbage for it's promised high/return low/risk.
As anyone who had credit card debt knows, I believe you have three choices;
1) sacrifice, change your lifestyle and pay it off.
2) declare bankruptcy and lose all future borrowing ability
3) Card surf, keep borrowing to pay it off while incurring more and more debt.
The number 1 problem with this country is immigration. The corporate fascist regime (and its Republican fascist bootlickers who often vomit on this blog) need mass immigration to survive (i.e., dumbing down of America, more mouths to eat processed food and corn, more cars to burn oil, more subprime loans, more competition to depress wages and turn everyone into serfs, etc).
Get rid of mass immigration and the Republican fascists will die off. That's why the fascists are fighting for a National ID Card while they leave the borders wide open.
It's the Fourth Reich unfolding right in front of our eyes. Enjoy.
Republican Fascists at work: Bush borrows money from your master China, so the sheeple deep in debt can use the Chinese checks to make credit card and loan payments to the Corporate Fascists on Wall Street.
And you Republican geniuses subsidize the sheeple by having to pay back the Chinese loans. But you keep licking the GOP boots because you think that makes you look "smarter" or "better than everybody else".
Have I mentioned that Neil Bush has a lobby business that defends Chinese interests in Washington?
No doubt, you are a bunch of Republican bootlicker geniuses.
Someone here said that most people would use it to pay off debt. I think that would help the problem with Credit Card companies having the amount of defaults they are having right now.
The economy is slamming on the brakes.
Where did they drum up this asshole? He needs to be taken to roswell and let the martians play with him.The govt will have this guy fired soon.He might be cheneys next bitch.
Gen Xer here. Social "Security" is theft. Medicare is highway robbery.
Boomers are the problem, not the solution. You cannot rob and tax us all into slavery for your "golden" retirement. Eventually, there will be more people who are screwed by the system than those who "win" by taxing younger workers to death. Just because you were dumb enough to fall for government's lies, does not mean you have a right to turn us into debt-slaves to pay for this stupidity.
The only way to pay for all of this is to print our way out. And, when all the morons in the baby boom figure that out, they will end up paying 20 times what I paid for my gold and silver.
And hey, we can always just choose not to play - work fewer hours, pay less in taxes, and let the boomers rot in their own filth.
Gen X was screwed by the Boomers in so many ways, and what comes around, goes around. Don't like it? Well, let's get rid of Social Insecurity and Mediscare tomorrow, and then I'll reconsider things.
One of many to come I'm afraid...
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/01/18/national/a172052S04.DTL&tsp=1
"If the private sector had trust funds like the Federal Government, somebody would be going to jail"
But we've known this for years, and given that the US about to become a basket case for other reasons it really doesn't matter.
The government will simply default or hyper-inflate its way out of this along with its other debts. It has no other option.
Of course that means anyone who was relying on SS or Medicare is screwed. Welcome to America.
The panic in commercial property funds is likely to intensify this week, as financial advisers are tipping Norwich Union to be the next asset manager to put a freeze on withdrawals by small savers.
Two other large funds run by insurance companies have already locked in their customers. Insurance company Aegon said last week that investors in its Scottish Equitable property fund may have to wait up to a year to get their money back and Friends Provident introduced a six-month delay on redemptions from its property fund in December.
Um, WHAT-EVER !
GO PATS !
(1) ...A lot of you Gen X and y kids will inherit your parents wealth .
(2) I talk to a lot of retired people and besides survival and health care ,the next concern on their list is passing on what they have to their children . I never tell these older people how the younger generations feel about them and how they want them to be taken out . Most of the older people I talk to live very dull lives and don't have a lot of extra money for luxury . Health care and food costs take a big bite of the pie each month for a lot of these people .The average retired person I know is shelling out between 400 and 600 a month for health care (for a couple ).The health care that these people get isn't really that good either . The health care industry is a money making industry for the younger people ,so who is making money off of who ?
(3) Retired people put money back into the economy ,so the thought that retired money doesn't fuel the economy is just plain stupid . For the retired people who can afford to travel, this funds a whole industry of jobs . If the retired people stay working longer , that leaves less jobs for the younger people .
Baby Boomers paid into the system for 40 to 50 years ,and now you are saying that they should not get the promises that were made ,even when they funded the social security for the generation that came before them .
Gen x and y fail to consider the years in which the baby boomers were taxed at 50 to 80% rates until
it took many years for the tax rates to come down . You young people have great Federal tax rates compared to the taxes I paid in my younger days .So, don't talk about fairness to me .
The Baby Boomers did have a great job market for many years and if anything I feel this is the issue that needs to be corrected in America ,along with the high cost of health care .Viet Nam was not a great price that a lot of baby boomers paid . I know a guy right now that just retired and he has to deal with agent orange damage everyday . Do you want to take that retirement away from that guy ,I don't .
Globalism is a major factor that is stealing the jobs from the younger folks today .While people were distracted by the stupid housing boom ,the corporations were selling us down the tubes .
While in the past labor Unions went to far ,now the balance scales have gone in the other direction in favor of the Corporation employers
You have to give a man or women a living wage ,and that means food ,shelter ,health care ,recreation ,and a chance for savings .American workers should not to have to compete with slave labor from around the world . Corporations would love for Americans to except the idea of the benefits of a Global economy ,but it's a con job .
My parents could live on one income .My generation of baby boomers needed to have both working to keep up with the Jones . The Gen x and y aren't offered reasonable benefits anymore from the Employers and that is what the problem is . Young people's wages should keep up with inflation ,and they are not .
The government will need to raise the age of Social Security as well as taxing all income, instead of capping it off .The health care system will need to be re-vamped .As far as I'm concerned the Health Care industry just hoodwinks the elderly by making them come in to many times to get refills on medications .
Every so often the IRS raises the taxes on SSI and I suspect they will start raising the taxes even more ,especially on people who make higher incomes in retirement . Every time they raise the SSI payment (that doesn't keep up with inflation ),they raise the cost on the Medicare payment .(Some of the younger people do not realize that monthly they take a Medicare payment out of the Social Security check (Its around 90 bucks a month per person ). With deductibles and co-pays and with the need of having supplement plans ,retired people are paying a lot of money monthly for health care ,(so its not free like you younger people think it is for the retired over 65). Don't get me started on people over 65 that have serious conditions .
Many people of all ages are insecure today because of what is happening in America .
When my father went on SSI ,I never felt like it should be taken away from him .
I really feel like the younger people are mad because of all the problems we have in America today . Corruption and greed has been around since the dawn of man ,so why take it out on your parents ? We baby boomers were stupid also in believing the Authority figures that lied to us all the time .
I just wanted to bring up a few points ...Thanks
"The primary role of the commander in chief is to protect ‘all’ the lives of our citizens."
No. The Primary role of the President is to protect the constitution.
Anonymous manroomblogger said...
It's amazing to watch the end of an empire. As we blog this country is being broken up like a dead corporation and it's divisions sold off....
Apparently it is a reason for great rejoicing here. Everyone who blogs here seems to be so full of glee about the upcoming nightmare. Apparently, those who blog about the end of the U.S.A. don't really believe that they are going to be affected by it. They are all going to be untouched because they have gold coins in the mattress.
Many who post here think that this whole thing is going to crash down as they sit idly by and watch it (with popcorn), and smile as everyone that is not with HP "gets what they deserve".
Maybe it isn't quite in good taste to have a party dedicated to rubbing everyone's face in the dirt that didn't do what all of the "smart" people at Housing Panic thought they should do.
Mean and vindictive just doesn't appeal to me even if it comes with beer and RealtyWhores & strippers.
There will be choking on the popcorn when this whole house of cards collapses. Bet on it.
1. sterilize people on welfare, including the men who father children and do not support them
2. get our military out of asia and europe
3. get rid of the payroll tax caps
4. audit the government books to stop the theft
5. if all other capital gains are taxed, then why not RE capital gains?
His problem is that his foreign policy would make the US irrelevant;"
I don't see why the US has to be relevant on the world scene. Let someone else clean up the shit for once. Who says we have to be the world's policeman and spend $400B/yr for the aggravation?
If you idiots want socialized healthcare, then take a trip to the county hospital next time you're sick. Sit in the emergency room for 12 hours and see if you still want government healthcare.
Another few facts for you idiots:
The US requires 8 years of post-grad school for medical doctors. Many countries with socialized care require only 4 years post-grad education.
Nearly 80% of new medical discoveries come from the US, due to the profits involved. Nothing comes out of Cuba, USSR and other countries where no profits are involved. Remember, they had "free" education and "free" medical care for everyone.
"Many people agree with Ron Paul on fiscal policy. His problem is that his foreign policy would make the US irrelevant;"
That's ridiculous. The US's militaristic, interventionist foreign policy has been a total failure. It's American culture and the ideals defined by the US Constitution that has won over so many minds in other nations. The soft power of cultural exchange has been way more influential on the world than bombs.
"You go! GEN Xers and GEN Yers. Bash the Baby Boomers some more! That's what the ultra-rich want you to do. Divide and conquer, I think they call it. Meanwhile, the ultra-rich will continue to rape all of us. Get a clue!"
the "entitled boomers" should have realized that "non-entitled boomers" wouldn't support unjut contracts; i.e. the "have nots" have no incentive to fight for the economic rights of "the haves."
When the shit hits the fan, you better be able to protect yourself. Of course all the gun-grabbing liberal morons won't have guns because they believe that the government is good and will protect them like it did in Nazi Germany and Soviet Russia. If you don't trust Bush or Hillary or Bernanke, you had better protect yourself. If you believe that politicians and bankers will sell you out, then you know what you have to do. I know there are plenty of people on this blog who think that Hillary, Obama, Pelosi and Kennedy will be their saviors almighty and have the people's well-being in their hearts. You are total morons. They are no different than Bush. They are power hungry trained liars just like their counterparts. They already sold you out with NAFTA when they were in control. They are trying to sell you out with open borders amnesty for 60 million illiterate mestizos who have no desire for freedom and liberty.
You whining gen x and gen y people need to shut the F#*& up. My paycheck has been garnered for 40 years by the Social Security Socialists and I want my F#*%&^$ money back. Now go the F*%# back to work.
That is all.
My paycheck has been garnered for 40 years by the Social Security Socialists and I want my F#*%&^$ money back. Now go the F*%# back to work.
Come and collect.
BTW, Medicare's in default too. Good luck finding insulin, old man. Say hi to Satan for me!
You selfish Gen-Xers forget how much you benefited from the SS and Medicare received by your parents, grandparents and great-grandparents. The money they saved by participating in the socialist systems was passed down through the generations giving you a more affluent life. If we were forced to help our aged relatives with cost of living and medical costs by ourselves, there would be little in the way inheritance for the generations after. Those savings are compounded over generations.
In other words, the life you believe was provided by Bill Gates and the other corporate masters was really provided by your fellow citizens over many decades.
I don't expect you to "get" that since you're like most spoiled, ignorant american sludge.
Bitch bitch bitch, whine whine whine, moan.
Boomers and XY'ers,
SHUT UP AND EAT YOUR SHIT SANDWICH!
Like you have a choice. Oh, you'll vote for change? Chelsea or Jenna? Real choices there.
HAVE ANOTHER SHIT SAMMY!
You're whipped and TPTB know it. You are powerless, impotent zeros.
Just because you were forced to pay into a broken, oppressive system DOES NOT give you the right to take from me.
I have yet to hear anyone over 50 provide one solid explanation for why I should pay into a system that is bankrupt before I retire. Usually, you hear a sad song about how everyone had to contribute, and therefore, so must younger generations. In other words, the greedy Boomers want theirs, but screw the younger guys! How's that for fair?
Don't tell me we need to raise taxes to pay for this. We tried that already. Supposedly, these things were fixed in the early 80s - they would raise the taxes and "SAVE" the money, and everything would be fine. Well, the politicians screwed the people and spent the money. It seems to me that if you wanted that money for retirement, you should have objected more when the goverment blew it all. I couldn't, since I could not vote.
Let's face it - these social "insurance" schemes are nothing more than a Ponzi scheme to rob younger generations.
There's a revolution coming, and the Boomers are going to have their backs against the wall.
Stop stealing from younger generations! I never asked for any of this. When I received my first paycheck, I realized a great crime had been committed. It's called Social Insecurity.
People should keep what they earn - simple as that. I guess we'll just inflate things away.
Another selfish unaware slug heard from.
I guess they don't teach young people the meaning of a contributory society. They must teach the every-man-for-himself theory which, as we saw over many centuries, doesn't work for 99% of humans.
Who knew that the unintended consequence of the social safety net would be a whole generation of selfish, whiny, spoiled assholes?
There's a lot of blame to toss around.
Blame FDR and the Democratic Congresses of the 1930s who created Social Security.
Blame Presidents Truman, Eisenhower, Kennedy, Johnson, Nixon, Ford, Carter, Reagan, Bush 1, Clinton, Bush 2 and the Congresses of their eras who created and raised and raised and raised Social Security benefits and other entitlements such as Medicare (a financial disaster that will far eclipse Social Security).
And blame the Americans who supported them.
Blame the "Greatest Generation" of World War II who collected far more in benefits from Social Security and Medicare than they ever paid in taxes. The Baby Boomers' taxes paid for the Greatest Generation's bennies. And now a lot of Baby Boomers are not only raising children but also having to support their Greatest Generation parents, too.
Blame the Gen X-ers, Y-ers and whatever other generation whose members gambled on debt, and lost.
Blame everyone who welched on their student loans. And blame their tenured professors and college administrators for the outrageous tuition fees.
Blame every American who has ever worked for a local, state or the federal government. Blame their children whose lifestyles were paid for by parents drawing a public sector paycheck. Blame all the businesses and their employees and stockholders who have profited from the public sector paychecks, entitlement checks and government contracts.
Blame all the Americans who vote for the big spenders.
Blame all the Americans who don't vote or don't contribute to fiscal conservatives.
Blame all the fiscal conservatives who don't get off their @ss to run for public office.
There aren't many blameless people in this country.
Another dimension to the Ponzi Scheme is that nations need immigration to prosper. That's an interesting wrinkle in the ongoing immigration debate.
This is going to be a protracted difficult time in American history -- something we haven't experienced on a large scale since the 70s and early 80s.
Something Gens X-Y-Z have never experienced. God help us.
Other countries manage to provide their aged with a dignified support system and health care. We're supposed the richest country. How come so many of you don't think we can do it?
It's because your priorities are screwed up BAD. That is, until you find yourself in need or your parents are in need. Then magically, everyone becomes a socialist.
It's easy for you walking brainstems to criticize a system you willingly participated in and benefited from for decades.
Savagery will never make a comeback. We'll kill the savages first.
"The baby boomers paid for the preceding generation's retirements with the promise that their retirement would be paid for. Quid Pro Quo. Now you are calling on the boomer's kids to renig on this arrangement? How noble!"
Gen Xer here, the problem with all this 'Promises were made!' BS is that the ones who promised it to you were not the ones you expect to deliver on that promise. I certainly never promised to pay for your retirement. I never signed anything and I don't consider myself morally bound to honor an "obligation" that I had no say in and never agreed to. All the more so because this little arrangement is entirely one-sided. I have to pay for your retirement and pay for my own?! Go whistle for it.
Anecdote: My boomer parents had only one child. My husband's boomer parents had two children, one of whom is a total waste of flesh. So my husband and I can look forward to supporting 4 adults in addition to our future children and ourselves during our prime earning years. (Both sets of parents have attempted to save and invest for retirement in conventional pension and 401k type accounts but the money simply will not be there when the time comes, I don't have the heart to tell them that though.) They are our parents and they will have food, shelter, clothing and medicine as long as I am able to provide it. My childless free-spirit aunt who is 50+ and has nothing to show for a lifetime of work however...
This is in addition to trying to fund all of our own retirement out of pocket since there will be no SS when we retire. So I pay $300 each paycheck before I've even started saving for my own future needs. The deck is stacked against me in a profoundly unjust way. I might as well just light the money on fire for all the good it'll ever do me.
There's no reason SS will be gone when it's your turn to draw it. That's a myth created by the republicans to scare the young into abandoning the idea of social welfare. Republicans have been predicting the demise of SS ever since it was created. And they fought tooth and nail to top it.
See, conservatives HATE a contributory society until it's them who needs help. Then they're the first in line, pushing and shoving to the front to get theirs and if they can, yours and mine.
There are givers and takers in this life. Conservatives are takers, nothinig more.
"other countries manage to provide the aged with...dignified health care."
I assume you're referring to the socialist countries of Europe. Well, do some research. The reason they're able to spend so much $ on entitlements is because the USA spends billions protecting those sorry-ass countries.
And why would anyone want socialized medical care controlled by the gov't? I agree that medical costs are outrageous but I certainly don't want a re-vamped gov't version of an HMO. There has to be a better way.
I think we're so far in debt and face so many problems in this "global" economy that there is no answer; maybe, sadly, it does have to collapse before people wake up.
And please don't look to our friends in Europe as role models. They are a "union" of elite run morons that have gotten accustomed to living off entitlements. But they won't last for long on that plan; they have an aging population along with some of the lowest birth rates on earth and the only immigrants pouring in are the Muslims. Eurabia is on the horizon.
It's not just Europe, it's ANY civilized country on EARTH.
Sure, they can afford to provide for their people since we "protect" them. What utter bullshit! But coming from a selfish savage conservative, it fits.
What a total waste of life you people are! No wonder so many of your ideological ancestors perished at the hands of faster evolving humans.
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