The only thing I didn’t like about what Newt said last night on Greta was the same old thing of the GOP-e.
The magic word, cut entitlements.
I am so sick of the TV Republican machine saying that, if I was in the same room with them I might just barf on them.
Put the $2.5 trillion cash you spent over the years from Soc Sec and MC surpluses - back in the fund.
IN CASH.
Problem solved.
But gee.. They spent it.
When things collapse really bad, there should be a lot of trials and convictions for bankrupting the government.
The Jon Corzine/MF Global precedent has been set; the oligarch class can steal anything they want, and there is nothing you can do about it.
Entitlements do have to be cut. The total liabilities of Social Security and Medicare are a hell of a lot larger than $2.5T. That’s just a drop in the bucket. Yes, if that money was still somewhere (though I’m not exactly sure how the government would have saved it) other than bonds (Social Security does have tons of T-bills, as meaningless as that is) it might put off the crash for a little while longer, but the programs are on an unsustainable course. They are Ponzi schemes pure and simple and those cannot have a future.