Posted on 01/29/2024 3:04:18 AM PST by davikkm
This country is being bankrupted by Social Security, Medicare, Medicaid, and pension obligations.
The perfect representation of what's driving us to financial perdition is a young person contributing to a 401(k) "defined contribution" retirement plan while paying taxes to support his retired parents who are living on a "defined benefit" pension.
I never supported the idea of SS retirement.
The problem with 401k’s is the stock market gets managed to collapse the real growth every 7-12 years, making it hard to see a real accrual of wealth now.
There are few tools left to build wealth, saving gets eaten with inflation and personal property investment is rapidly becoming untenable with inflation and mortgage rates these days.
As long as we have crony capitalisms and the left’s version of fascism there is little hope of effectively saving for the future.
Divide the Federal debt by the number of working Americans, and by my estimate this comes out to a per-capita debt of about $205,000.
What this means is that a married couple in this "older end of millenials" has a combined debt of $410,000 -- which is like having a large mortgage and no home to show for it.
“one of the greatest word salad statements “
This is not to pound on that poster, but additional word-salad euphemisms are ‘reset’, ‘pivot’, ‘recalibrate’ and ‘headwinds’.
Well, the Government may (or may not) be able to forgive some student loan debt. But I don’t think they can just start forgiving personal debt. But who knows anymore?
Socialism always has some kinks in it as soon as the find them the left tell us it’ll be okay.
One notes that Trump, in his first administration, was poorly guided by RINOs (Barr and Pompeo, among them) who since have revealed themselves, and of course attacked by the Russiagate-Clinton-Vindman game and two impeachment trials.
One hopes he at least, should he be candidate and win, will have learned that lesson.
But there is zero doubt to my view that an unavoidable reckoning looms on the horizon.
Washington's farewell address from 1796 was prescient. Parties serve themselves first, and a nation secondarily.
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