I think that our readers and commenters are smarter than the national average. We don't get into giant flailing arguments and I generally enjoy everyone who take the time to comment. So I hope I didn't come off as abrupt in my last post where I used a quote from a comment. Michael, if you're still one of our readers, look up this information, do your own verification, and if I'm wrong on this, please show me the alternative numbers and your sources. I promise I will post them right here.
The information I have says the in less
than two decades, all projected tax revenues will be consumed by just three federal programs (Medicare, Social Security, and Medicaid, which
includes CHIP and Obamacare) and the interest on the debt.
I'm in the demographic that's going to load the system in the coming years. My wife is eligible for all of this in 4 years. I become eligible a few years later. We are two of 80+ million boomers. We all paid in far less than we will draw out. But even if we had paid in the full amount we could draw, it's already been spent. It's gone. All that remains is an I.O.U. from the federal government to itself.
They are trying to cover this by spending a trillion dollars a year more than they have. And by "they" I mean all of them, left and right, Dems and GOP, Executive and Legislative.
If it's not already too late to put on the brakes, it's very close.