I read this article yesterday:
How to invest for the debt-bomb explosion Paul B. Farrell - MarketWatch
, and thought that even I agreed with some of what the guy said, it seemed a bit alarmist to me...I mean, really, buy a farm and prepare for civil unrest?
Then I read this article today:
US debt will keep growing even with recovery - Yahoo! Finance
and if this guys facts are right, ten years from now, 80% of the fed govt budget is going to be needed for just SS, medicare and interest on the debt.
This is really starting to look like something that is not going to end well - and soon; Maybe the doubling of all the tax rates AND gutting of services is the best case scenario, if collapse of the economy is the alternative...
So where are these two guys wrong? What is going to happen so that neither of these two outcomes come to fruition? Are there any plans or proposals on the table that are going to push of this day of financial reckoning?
And please, lets not blame this on Bush or Obama (or the democrats or the republicans) - NEITHER party has done a thing to solve this problem for the last 40 years and I have little hope that any of them will be different in the next 10 years.
How to invest for the debt-bomb explosion Paul B. Farrell - MarketWatch
, and thought that even I agreed with some of what the guy said, it seemed a bit alarmist to me...I mean, really, buy a farm and prepare for civil unrest?
Then I read this article today:
US debt will keep growing even with recovery - Yahoo! Finance
and if this guys facts are right, ten years from now, 80% of the fed govt budget is going to be needed for just SS, medicare and interest on the debt.
This is really starting to look like something that is not going to end well - and soon; Maybe the doubling of all the tax rates AND gutting of services is the best case scenario, if collapse of the economy is the alternative...
So where are these two guys wrong? What is going to happen so that neither of these two outcomes come to fruition? Are there any plans or proposals on the table that are going to push of this day of financial reckoning?
And please, lets not blame this on Bush or Obama (or the democrats or the republicans) - NEITHER party has done a thing to solve this problem for the last 40 years and I have little hope that any of them will be different in the next 10 years.