so then what?
Pension funds are sinking cities and states all over the nation. Why? They were funded based on 8% returns, and so the moon was promised. Now that they aren't delivering, those pensions are eating into general budgets. Cities are going bankrupt because of these liabilities, which by the way number into the trillions of dollars, nationwide.
Not a local government or state employee? Don't smirk, you are sitting on a huge liability that dwarfs the pension issue. Social Security. The difference, of course, is that if things get too desperate, money wise, Congress can pass legislation changing how much you receive, or add an earnings test, to see if you qualify for Social Security. Yup, the Supremes did that back in the 1960s, and we know how important precedent is. Social Security is now a drain on the general fund. And what is anyone doing about it?
What about other entitlements? The welfare reform of the mid 90s was very successful at helping people cut their plantation chains and move on. A lot of that was rolled back during the previous administration. What happens when there is no money for them?
I know I keep harping, and no doubt you will think me a Bushie, but the last time any kind of reform was done for Soc. Security was under W. Bush 43. He used every drop of political capital he had, tried to get the discussion moving, and was slammed for it. We heard talk, as we always do from Democrats, about a mystic lock box. And how trying to privatize Soc. Sec. would violate that trust. By the way. That lock box is full of little scraps of paper that say: "IOU $xx billion". Just like the coffee box at many offices. Except that the treasurer put them there. And it is in some federal building in WV, no doubt named after Democrat and Klansman, Senator Robert Byrd. The man Democrats have revered for decades before his death and since, in the US Senate.
I could go on. Medicare, Medicaid. Medicaid will fix itself in the next few years, as states will get tired of having to spend even more out of pocket for the poorest in the nation, because people that shouldn't be on the plantation have been invited, and moved in, having their health care subsidized at the cost of the very poor. Oh, and more and more doctors are declining to take Medicaid patients. Medicare, on the other hand, is in the red, and will continue forever more to be so. Where does that money come from? It comes out of the general fund. Which means that every dollar that is spent getting grandma a new hip at 99, is a dollar that can't be spent somewhere else. (of course it still has to be borrowed)
Some states have tried to fix their pension problems, and been shut down on those attempts by the courts. Yeah, because they would rather end up where no one gets pensions, than make those unpopular, yet completely necessary cuts now. When Detroit went bankrupt, their pensioners had their pay slashed. Is it fair? No, who was at fault? The trustee that had to make that choice? Or was it the years of neglect to fund, or make difficult choices when people not yet retired could have time to make different plans? If you blame the trustee, what do you propose to fix it?
This is what we should be talking about. We should be figuring out how to reduce government spending since the cost of borrowing goes up and up and up, soon to rival Social Security and Medicare spending on the federal level. We aren't. and that is definitely a bipartisan position. No political person wants to put their sacred cows on the altar, and so instead of addressing the issue, they just say more more more! They don't want to talk about it. They don't want to do anything about it, they just pretend that it will go away.
Oh, and by cutting spending, I don't mean rescinding tax cuts. Allowing people to keep more of their money is not spending.
Oh, and the midterms. Still going with GOP keeping the House, and increasing numbers in the Senate, why? Well, as the Democrats have made the election about Trump, the GOP has decided to hang the names of Pelosi and Schumer around the neck of every candidate. And well they should. Oh, and "Remember the Alamo" has been replaced with "Remember Brett", and "Don't let them take your crumbs". Okay, neither of these are legit slogans, but you get the meaning. If the GOP does keep the House and Senate, then it will be one of the first times that the Dems, not the GOP snatched defeat from the jaws of victory.
SO go vote. Remember, are you voting for Pelosi for speaker? Or are you voting for the balance of work that has been accomplished to date by the Trump administration, in spite of the swamp. Yes, it really is that choice.
Personally, when it comes time where entitlements are cut off, which has to happen at some point, I don't know what will happen, but probably time to go buy some more ammo.
Not a local government or state employee? Don't smirk, you are sitting on a huge liability that dwarfs the pension issue. Social Security. The difference, of course, is that if things get too desperate, money wise, Congress can pass legislation changing how much you receive, or add an earnings test, to see if you qualify for Social Security. Yup, the Supremes did that back in the 1960s, and we know how important precedent is. Social Security is now a drain on the general fund. And what is anyone doing about it?
What about other entitlements? The welfare reform of the mid 90s was very successful at helping people cut their plantation chains and move on. A lot of that was rolled back during the previous administration. What happens when there is no money for them?
I know I keep harping, and no doubt you will think me a Bushie, but the last time any kind of reform was done for Soc. Security was under W. Bush 43. He used every drop of political capital he had, tried to get the discussion moving, and was slammed for it. We heard talk, as we always do from Democrats, about a mystic lock box. And how trying to privatize Soc. Sec. would violate that trust. By the way. That lock box is full of little scraps of paper that say: "IOU $xx billion". Just like the coffee box at many offices. Except that the treasurer put them there. And it is in some federal building in WV, no doubt named after Democrat and Klansman, Senator Robert Byrd. The man Democrats have revered for decades before his death and since, in the US Senate.
I could go on. Medicare, Medicaid. Medicaid will fix itself in the next few years, as states will get tired of having to spend even more out of pocket for the poorest in the nation, because people that shouldn't be on the plantation have been invited, and moved in, having their health care subsidized at the cost of the very poor. Oh, and more and more doctors are declining to take Medicaid patients. Medicare, on the other hand, is in the red, and will continue forever more to be so. Where does that money come from? It comes out of the general fund. Which means that every dollar that is spent getting grandma a new hip at 99, is a dollar that can't be spent somewhere else. (of course it still has to be borrowed)
Some states have tried to fix their pension problems, and been shut down on those attempts by the courts. Yeah, because they would rather end up where no one gets pensions, than make those unpopular, yet completely necessary cuts now. When Detroit went bankrupt, their pensioners had their pay slashed. Is it fair? No, who was at fault? The trustee that had to make that choice? Or was it the years of neglect to fund, or make difficult choices when people not yet retired could have time to make different plans? If you blame the trustee, what do you propose to fix it?
This is what we should be talking about. We should be figuring out how to reduce government spending since the cost of borrowing goes up and up and up, soon to rival Social Security and Medicare spending on the federal level. We aren't. and that is definitely a bipartisan position. No political person wants to put their sacred cows on the altar, and so instead of addressing the issue, they just say more more more! They don't want to talk about it. They don't want to do anything about it, they just pretend that it will go away.
Oh, and by cutting spending, I don't mean rescinding tax cuts. Allowing people to keep more of their money is not spending.
Oh, and the midterms. Still going with GOP keeping the House, and increasing numbers in the Senate, why? Well, as the Democrats have made the election about Trump, the GOP has decided to hang the names of Pelosi and Schumer around the neck of every candidate. And well they should. Oh, and "Remember the Alamo" has been replaced with "Remember Brett", and "Don't let them take your crumbs". Okay, neither of these are legit slogans, but you get the meaning. If the GOP does keep the House and Senate, then it will be one of the first times that the Dems, not the GOP snatched defeat from the jaws of victory.
SO go vote. Remember, are you voting for Pelosi for speaker? Or are you voting for the balance of work that has been accomplished to date by the Trump administration, in spite of the swamp. Yes, it really is that choice.
Personally, when it comes time where entitlements are cut off, which has to happen at some point, I don't know what will happen, but probably time to go buy some more ammo.
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