01-04-2017, 01:30 AM
(01-04-2017, 01:20 AM)Warren Dew Wrote:(01-03-2017, 04:36 PM)Eric the Green Wrote: Social Security and Medicare are not problems, and are not the cause of the debt. They are paid-for programs. Relatively speaking, Social Security is better paid for than Medicare, but basically it's the same deal.
False. Social Security has unfunded liabilities of $32 trillion, not counting Medicare. That dwarfs the nominal debt of $17 trillion or so.
Like I keep trying to tell Eric the Obtuse, the government has over promised. In the end there will be a default even if it isn't called that. For example the default in 1971 is called closing the gold window which means that there wasn't enough gold to cover the dollar bills that were printed. A consequence of the Great Society programs and the Vietnam War which the Boomers failed to correct in the years since LBJ.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- H.L. Mencken
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises