Populations are aging, and life expectancies are increasing. In 1940, there were forty-two workers per retiree, but that number has fallen to three to one, meaning that there are not nearly enough workers to support Social Security beneficiaries.
Morgan Housel • In This Economy?
... See moreStarting with the “Great Society” splurge in the 1960s, which created many social programs but failed to provide any way to pay for them, America has become accustomed to living beyond its means, essentially by borrowing huge amounts of money and passing the debt along to future generations. (An admirable exception was the Clinton presidency, which
percent deficit, you end up with about a 10 percent deficit, which is, of course, where we find ourselves today and is clearly unsustainable. This perspective certainly suggests that if we want to balance the budget by returning to historic norms, we have some work to do on both sides of the ledger. David Walker, former U.S. Comptroller General and
... See moreBill King • Unapologetically Moderate: My Search for the Rational Center in American Politics
While many focus on our rising interest costs to service our rising debt amounts I dont much care. We pay our interest to our citizens. Our existing debt service costs are mostly just a small symptom of the theft. The big thing to worry about is our primary deficit. That has grown far faster than our interest cost. Each year our primary deficit lay
... See moreAndy Constan on Trump Tariffs
If you have the common sense to understand that you can’t fight a debt crisis with more debt, and that the massive Baby Boom generation around the world will only spend less as they age, not more, then you will listen to what I have to say and prepare your investments, your business, and your family and kids for this inevitable and necessary crisis
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