ScaredtoQuit
Recycles dryer sheets
- Joined
- Jan 3, 2007
- Messages
- 211
http://news.yahoo.com/s/ap/20070201/ap_on_bi_go_ec_fi/economy_33
What the &%#$ are we doing? I don't see how the spend, spend, spend mentality that exists in this country won't have dire consequences for us as a nation. How are all of the unprepared boomers (and that's most of us) ever going to retire? When they can no longer work, who's going to house them, feed them, pay for their greens fees? Furthermore, it seems quite possible that when the spending DOES finally stop, we could face a recession of monumental proportions.
I see a small glimmer of what's down the road with the parents of my Goddaughter. (as reported by my goddaughter) Her Dad worked as an IT contractor (without pension benefits) for many years and made a pretty good living. But unfortunately, he didn't put a single penny away!! Now that he's drawing social security, he isn't bothering to try to find work because "he's retired". The Mom is younger - in her mid fifties - but is starting to have health problems. She is trying to continue to work but I don't know how much longer that'll be possible. Meanwhile, there is a daily barrage of calls coming in from bill collectors.
The really horrible part about all of this is the impact that it potentially could have on people like us. (This has often been discussed on this Board) Not only is it likely that our taxes will be raised to take care of these idiots but there is always the possibility that our own carefully thought out plans won't work because of that "recession of monumental proportions".
Maybe we should all just spend down all of our money so we can free-load along with everyone else.
What the &%#$ are we doing? I don't see how the spend, spend, spend mentality that exists in this country won't have dire consequences for us as a nation. How are all of the unprepared boomers (and that's most of us) ever going to retire? When they can no longer work, who's going to house them, feed them, pay for their greens fees? Furthermore, it seems quite possible that when the spending DOES finally stop, we could face a recession of monumental proportions.
I see a small glimmer of what's down the road with the parents of my Goddaughter. (as reported by my goddaughter) Her Dad worked as an IT contractor (without pension benefits) for many years and made a pretty good living. But unfortunately, he didn't put a single penny away!! Now that he's drawing social security, he isn't bothering to try to find work because "he's retired". The Mom is younger - in her mid fifties - but is starting to have health problems. She is trying to continue to work but I don't know how much longer that'll be possible. Meanwhile, there is a daily barrage of calls coming in from bill collectors.
The really horrible part about all of this is the impact that it potentially could have on people like us. (This has often been discussed on this Board) Not only is it likely that our taxes will be raised to take care of these idiots but there is always the possibility that our own carefully thought out plans won't work because of that "recession of monumental proportions".
Maybe we should all just spend down all of our money so we can free-load along with everyone else.