Medicare and SS are pay as you go programs, i.e., today's workers pay for today's retirees. We can't tax the worker enough to pay for these programs. The average Medicare recipient receives three times more in benefits than he paid into the system.
Posted on 01/26/2015 2:40:13 PM PST by jazusamo
bumps
Don’t worry, this will be all over the ABCNBCCBSMSNBCetc. news tonight. The bad publicity will stop him.
I think you are being sarcastic, right?
Yes.
you mean, if the govt takes over an industry that costs $3 trillion/yr ... it’ll increase overall govt spending by at least that much?
that would mean would tax revenues of $2.4 trillion currently would have to MORE THEN DOUBLE just to break even
good luck with that
Whoever follows this anti-American president should be inaugurated with one hand on the Bible and the other holing a giant pooper scooper. They will need both to try to put this country back together.
in the year 2020!
These numbers are all pie in the sky. They make assumptions that only a true idiot could not see are ridiculous.
Interest rates on the debt were double digit in the 80’s. They are only 2% now. If those interest rates go to a simple 9% now and stay there a little while then every penny the government takes in goes to pay the interest on the debt. Only a fool would think that can’t happen. Only a dim brain cannot realize that sooner or later(not much later) the mathematical reality is that all government income will be needed just to pay the interest on the debt. As the debt goes up, that magical 9% number goes down. Even as that rate goes up 1- 2% then their must either be drastic spending reduction or a far greater rate of borrowing. It is a mathematically reinforced positive loop that leads to financial destruction.
Articles like this an the CBO completely ignore reality. That is in fact why every prediction they have made in recent years have been a complete bust.
Congress’ fault. They’re the ones signing the checks.
The increases will be due primarily to the entitlement programs and other mandatories, which are on automatic pilot. Obama and Congress for that matter, have no control over them save for reforming them, i.e., reducing benefits or raising taxes or some combination thereof.
Who the hell cares how history will treat Obama? He certainly doesn't care a rip about us.
History will not be kind to us for electing this charlatan.
Sad thing is most people will never understand that.
Medicare and SS are pay as you go programs, i.e., today's workers pay for today's retirees. We can't tax the worker enough to pay for these programs. The average Medicare recipient receives three times more in benefits than he paid into the system.
I tried. I asked about retiring, and coming back to work on a part-time basis for those jobs that needed my particular skill-set (we have a shortage).
Instead, I was asked to stay. I'm mentoring new college grads, and other people with some experience, but not with my skill-set.
I'll retire eventually. Just not this year. I have to wait until I can start withdrawing from my IRA without penalties (and I don't want to jump through the hoops to do so before then).
Boomers have been running things for four decades now.
No, it's been more like two decades. Clinton was the first "boomer" President. Congress had a few younger Representatives and Senators before that, but not many.
Time to relax and retire.
It's a little hard to do that when the Democrat's Great Recession has wiped out a good part of your retirement assets. And, the Social Security trust fund will be empty in about 20 years, requiring an immediate 25% reduction in benefits for everyone.
I am in pretty good shape, for now. But, if the price of oil stays low, it's going to be a bumpy ride.
He whined like a baby about the “mess” Bush left him. Well Bush’s mess isn’t going to be jack **** compared to the abortion the Kenyan is leaving for the next president. Obama should be in jail for what he’s doing to this country. This is why the Founding Fathers insisted that all presidents should be AMERICANS!!!
And just think... It took the CBO six years to figure out what we all knew from day one.
The solution is, someone needs to bring back jobs to America.
NOBODY is doing that.
Better start brainwashing those grandchildren into believing that performing three jobs is normal, government is your friend, and the middle class was just a fairy story.
You sound awesome!!!! I wish I got the chance to meet you.
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