Posted on 03/28/2024 6:52:29 AM PDT by Kaiser8408a
Part of the Bidenomics “plan” is not only green-energy spending, but plenty of freebies to gather voters from the masses. Like the $214 TRILLION in unfunded liabilities promised to the masses in the form of entitlements like Social Security, Medicare and Medicaid (why did they demand that all US citizens be forced to buy healthcare insurance, then give free healthcare to illegal immigrants??). In any case, each citizen is on the hook for $636,000!
What about the national debt with Ice Cream Joe at the helm? It has exploded in growth.
Not only has it gotten boring to be ahead of the curve by almost half a year, but pretty much every possible warning that could be said about the exponential increase in the US debt has been – well – said.
And yet, every now and then we are surprised by the latest developments surrounding the unsustainable, exponential trajectory of US debt. Like, for example, the establishment admitting that it is on an unsustainable, exponential trajectory.
The striking words from the head of the CBO, best known perhaps for publishing doomer debt/GDP projection charts such as this one…
When asked about disastrous out of control spending and debt, Biden and Schumer broke into song: “Let it ride!”
(Excerpt) Read more at confoundedinterest.net ...
Collapse the system - top down, bottom up.
Crisis = chaos = politicians come in an usurp more power to ‘solve’ the problems they created.
Rinse and repeat.
Yes
This is how they will seize our 401k’s, IRA’s, Keoghs, Roth’s and personal Savings accounts. In the name of National Debt.
Argentina did it.......................
> $636K /citizen?
No big deal. In 30 years that will have the purchasing power of a veggie cheeseburger.
Tax & SPEND
“For imposing Taxes on us without our consent.” - Declaration of Independence
The SPENDING of our imposed taxes on whatever the mini kings & queens in CONgress deem important.
Tax & SPENDFLATION
or a cricket burger.
Why do you think they want the guns?
They will never do that take retirement accounts or stop social security. But they will gladly devalue the money so that your entire 401K will only buy a loaf of bread.
Revelation 17 and 18-—We are “The Great Babylon”....(Just my thoughts on the subject)
But think of the number on the asset side of the equation!
/s
The 'idea' was first floated by the Clinton Administration back in the 90's to shore up Social Security, because it wasn't 'fair' that some people had 401k's and IRA's and others did not...................
some crack pots can “float” the idea all they want, but voters will never support that, and it isn’t even close.
But like I said, they will be more than happy to give you the worthless money they promised you!
Their spending will make inflation skyrocket making our 401k and IRA worthless in terms of what they can purchase.
When I entered the workforce back in the mid 1980s and started my first 401k, a million dollars was the gold standard. I was told that if I could ever get my 401k to that level, I would be able to retire in luxury and never have to worry again about money.
Well I did get to that level some 30 years later but I was soberly told by my financial planner that I would need a lot more than that to be truly comfortable.
A million dollars in your 401k is not as much as one might think. Using the 4% rule of thumb for retirement, that million would only generate $40,000 a year in income - taxable income by the way. Without a Social Security check or at least a part time job to supplement, a 401K "millionaire" will basically have a retirement of clipping coupons, dining out at Applebees, and going to matinees when you want to go see a movie.
And for someone trying today to retire on $40,000, the way inflation is going, you would find yourself under the poverty level in 10 years or so.
Should also be noted that very few workers have been able to accumulate a million dollars in their 401k (or other IRA type savings).
It's a little depressing for one just reaching the age of retirement. But even more depressing for the younger ones, who now are being told they need to have $3-5 million saved up by the time they retire.
Most of us are going to have to resign ourselves to the fact that the goal of "retirement and gold watch at 65" is but a pipe dream.
They will do it. Obama considered it but decided “Not yet the right time.”.............
Not to worry........Illegals are not subject to taxes, and, those EBT-types can't have their wages impacted, either.
It's up to Whitey, to carry the load, as always.
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