Getting More For Less

Townhall.com ^ | July 26, 2014 | Charles Payne

[Kaslin]

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If you are like me, you grow frustrated when billionaires come out and tell the public how to live their lives. I am especially suspect of billionaires who are buying up robot companies, while trying to convince the public that we should work half as hard. In other words, when the dudes from Google try to pitch this sort of thing, I find it total nonsense, and a cover for the fact that one day, we may not have a choice to work half as much, or not at all since their robots will work a lot harder for a lot less.

However, comments from Carlos Slim, perhaps the richest man in the world, hints at something very different.

The Mexican billionaire suggests a three-day work week (where one works 11-hours a day) will contribute to a better quality of life. Here's the catch: work until the age of 75. Sure, he tossed in the quality of life stuff; after all, it's part of a greater socialist utopia pitch that is gaining traction in the media, even if it is a cop-out. It's just an excuse for a western nation that is losing economic clout after a series of failed policies.

Considering life expectancy these days, his suggestion is not unreasonable. Considering how much money has been promised to retirees, there may not be any other choice.

From now to 2030, 77 million baby boomers will retire, and will be looking for a lot of money from the government. None will feel that they are ripping off the system as they have all paid into it, and some for several decades.

Moreover, here is the rub: currently our unfunded liabilities are at $47 trillion and by 2030, when the last baby boomers who head off to their golden years, the number could be up to $100 trillion.

So, yes, we are paying into the program, just look at Medicare.

Most of us are going to take out a lot more than what we put into the system. But this money that is promised... can it be delivered?

Solutions:

* Retirement at 70 (later 72)
* Greater contributions
* Investment in stock market (Fortune 100)
* Private Accounts (transferable)
* Keep all current promises
* No new taxes
* Phased in over a 5 to ten-year period

I know this is a political loser (and has wrecked more political careers than sex scandals), but it must be dealt with just like debt, along with the runaway government spending which must be addressed, as well.

[jim999]

Read some of the Asimov books. Especially the Robot series.
Frank Herbert’s references to the Butlerian Jihad in “Dune”.
There are lot’s of writers on this topic.
I doubt if there are references to robots in the Bible, but there certainly are about a man being destroyed by his servants.

[Kaslin]

My husband used to read them when he was younger

[expat2]

The only feasible way to do anything politically is to use inflation to resolve the problem, and that is what they are doing. It is the least painful for the political class, which is very important, but it only works if entitlements are not allowed to grow as fast as inflation.

Of course, it will still be painful, but there is no way we are going to get out without a lot of pain, since we are living well beyond our means in the West.

[bert]

Then there is unemployment........ with the unemployment now present, there can not be wage inflation. Absent wage inflation the general inflation can’t catch on.

The politicos in the socialist states know this and are working mightily to increase minimum wages to give the general wage inflation a nudge. They hope their pitiful efforts will go national.

their problem is exacerbated by Obamacare. they desperately need general wage inflation to cover their butts and hide the medical care insurance increases.

I think that CEO’s large and small know this and are not going to do anything except hang on until the Obama plague is over

[nascarnation]

The Death Panels will be a big help for SocSec and Medicare, both of which will have their fiscal outlook improve greatly as the lifespan decreases.

Even a one year reduction is huge.

[roadcat]

Of course, it will still be painful, but there is no way we are going to get out without a lot of pain, since we are living well beyond our means in the West.

That's the problem. "We" are living well beyond our means in the West. Third-world hellholes see this, and their peoples are trying to flood into western countries. Sort of exacerbates the situation. More illegals flood in. Our politicians encourage them to do so, and give handouts to them by indebting us and our children. Debt all around in every direction is only going to explode in misery. All political solutions will fail eventually. The only solution is collapse and a reset. That will be the true pain for everyone; it's being postponed by artificial means but the timeframe for a correction gets ever-closer.

[Freedom_Is_Not_Free]

10 years from the minimum age to collect, I don’t expect to receiver a single penny from the money I paid into Social Security. Not a single penny. By the time I am able to collect at minimum age, it will be for the elderly poor alone. Those who don’t need it for survival, won’t be getting it.