What’s Social Security have to do with Detroit? SS is a federal entitlement and when the Feds run out of money, unlike Detroit ,they can just print more.
SS is a federal entitlement and when the Feds run out of money, unlike Detroit ,they can just print more.
Printing money has been working just fine quite some while. As long as the dollar is devalued fairly slowly, most people don't notice the gradually rising cost of everything. Altering the way the cost of living is calculated makes it easier for the feral government to disguise the effects of devaluation. Stupid? No. Malicious? Yes.
stop it, he’s on a roll
He is saying Detroit is symptomatic of many entities. If you rely on someone else for your retirement, including the Federal Government, you may end up losing your anticipated nest egg.
“What’s Social Security have to do with Detroit? SS is a federal entitlement and when the Feds run out of money, unlike Detroit ,they can just print more.”
It’s the exact same funding model. Promise today what workers of tomorrow will be willing to pay, what property owners will be willing to pay, what business owners will be willing to pay.
With each bond issue that solves a political problem of today, the burdens on future Americans are squandered. Eventually, you affect whether future taxpayers will even exist - because it’s too expensive to raise children in a socialist paradise as a producer.
Financially speaking, we are Detroit. Federal obligation will no more be paid than Detroit’s.