« Timmy Geithner Knows Diddly-Squat | Main | Who Can Take This Country Seriously Anymore? »

04/28/2011

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

John D

Dave, if you don't get many comments on this commentary, it may be because there's not much to say. The chart you posted says it all. Now its just a matter of waiting for the first politician to stop the lies and spinning and level with the voters.

Loveandlight

I think it will be combination of this *and* dollar-collapse that will push US society over the edge. As for the inflation vs. deflation stuff, I'm stayin' out o' that discussion. Like a lot liberal-arts types, I barely managed to squeak out a "C+" in Econ 101 back in my school-daze!

Claudia Resch

I think that calling Social Security a 'handout' perpetuates a neocon myth - the american worker has paid-and paid- and therefore are just getting back what they paid in. If the elites hadn't borrowed/stolen the Fund, there would be enough for every baby boomer to retire on the pension he/she paid for.

Dave Cohen

Claudia --

My use of "handout" was politically neutral, but I changed the word to "payments" so people like you wouldn't be offended.

As I've said before, social security is not the problem. Health care expenditures are the main problem. But now we've got 45 million people on food stamps, and so on.

The real issue is that America is a Failed Society.

Morocco Bama

There's only one thing left we can do to protect ourselves. Buy gold.

Morocco Bama

Loveandlight, I hear ya. Arguing over the semantics and minutia is futility and a complete waste of time and energy. It's going to be a giant Shit Sandwich, whether it's on Rye, Sourdough, Whole Wheat or French Bread.

Let them have their Shit and eat it, too!!

JC

Morocco - buy gold?! Are you joking? That's like saying there is a flood coming everyone go out and buy a 40 foot yacht!

Mike Brehm

>> There is no way out of this dilemma, pending World War III.

Dave, I'm even more resigned than you that WW III is where we will end up - I'm only hoping that it won't go nuclear and effectively exterminate Homo Sapiens (hey, a guy's gotta have SOME hope, right?).

Proxy resource wars in far-off lands guided by the US and China will only work for so long (through 2030 at best, and that's super-optimism for you). Eventually both of us will step into the ring and go at it face-to-face, alliances will be drawn, and the world will dance another bloody rumba until we've exhausted enough of us (or all of us) to declare some sort of victory (if you can call it that).

Man did I get up on the grumpy side of the bed this morning, eh?

Kiki

First time poster, been reading this site for a few weeks. I realize this may be laughably naive, but what about semi-retirees.ie., those who continue to work, and death? I ask because the alarmism over retiring boomers (and I am not one incidentally)seldom if ever take those 2 factors into account.

It seems to me that the problem is not simply boomers but also factors such shrinking employment (even pre-2008), and what employment there is low paying. After all nominal wages haven't risen appreciably for most of us in decades. Kids 20 years younger than I am are starting about at about the same wage. As for cutting defense,even if that did happen wouldn't that mean 100s of thousands of unemployed former military personnel?

Gail

JC, I think it is safe to surmise that Morocco Bama was, indeed, joking.

Alexander Ač

Our end is future for others...

gg

I think the loss of the independent family farm has also contributed to the increase in dependence on government handouts, payments etc. especially during hard economic times. Since 1929, there has been a huge movement of people to the cities. 80% of all people in the US live in cities now. City people (especially the poor)are dependent on public transportation, jobs, public housing etc. to survive. You can't eat concrete and steel, nor gold.

Morocco Bama

Alexander, so true. It's refreshing to think we are manure from which the next Buddha will sprout. As Nathan said, it's our special purpose.

http://www.youtube.com/watch?v=ymucqmjJs20

Morocco Bama

******That's like saying there is a flood coming everyone go out and buy a 40 foot yacht!******

It worked for Noah. Okay, I know, he didn't buy his Yacht, he built it....but think of the intrinsic value received in accomplishing such a feat. Not everyone can build their own Yacht.

http://www.youtube.com/watch?v=so9o3_daDZw

S P

Dave:
Alot of people understand all of this but it's just not talked about that much.

Kind of like religion and politics at the dinner table.

America is one giant dinner table where we refuse to talk about anything.

And even if we did decide to talk about these things, we wouldn't be very good at it, as cable news demonstrates.

Watch British (or heck even Canadian or Australian) television and you'll be amazed at the level of discourse, people actually seem to be able to string a thought together and make sense.

Tony Weddle

As a non-US resident, I'm not clear in how these numbers come about. Is that $2.2 trillion in household taxes just income taxes? Of course, that would be bad enough but I'm wondering if, in addition, there are things like sales taxes and property taxes, which are paid by households. Do the figures include them? It doesn't look like it but just wanted to be sure. If not, then all of the rest of government expenditure must come from those other taxes and corporate taxes, as well as borrowing. Is that right?

The comments to this entry are closed.