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On Mon, 18 Apr 2011 23:55:24 -0400, wrote:

On Mon, 18 Apr 2011 20:02:20 -0700, wrote:

On Mon, 18 Apr 2011 22:29:53 -0400, wrote:

On Mon, 18 Apr 2011 18:15:07 -0700, wrote:

On Mon, 18 Apr 2011 16:07:56 -0400, wrote:

On Mon, 18 Apr 2011 13:18:31 -0400, Harryk
wrote:

wrote:
On Sun, 17 Apr 2011 22:57:36 -0700, "Califbill"

SS/Medicare is s huge wealth transfer from the young to the old.
... and I am an old guy saying it.
It would be real easy for me to say "if you can hold it together for
15 or 20 more years I will be dead and won't give a ****" but I do
have a sense of responsibility about my kids.

S&P just fired a shot across our bow with a drop in the rating of our
sovereign debt. The next step is lowering the ratings on our bonds.
Bear in mind, if we only have to pay half of a percent more on the
debt, it would gobble up every penny of restoring the Bush tax cuts on
the $250k and up folks. ($70 billion a year)

Getting control on the debt is a lot more serious than health care,
global warming, terrorism or any military threats. It affects the full
faith and credit of the US and if that is damaged, we will not be able
to address any of those other issues.

I know it is unthinkable, but the citizens of the US might have to
make some sacrifices to do this.
I have been watching the Ken Burns show about WWII again. If we were
as selfish then as we are now, we would be speaking Japanese or
German. Bob and Plume keep saying we are not in as much of a debt
problem now as we were in 1944 but the difference is US citizens owned
most of that war debt. Now more than half of it is in countries who
really don't care if we fail.

Whoooo wealth transfer. Must be Obama the Marxist.

I actually got that "wealth transfer from the young to the old" from a
PhD economic professor that I argue with on another BB.
He is about as left as you can get but he does understand the reality
that SS is "pay as you go" and young people are paying old people 14%
of what they earn. That is usually a lot more than their income taxes.
It still is not covering the benefits being paid out.

Tell it to the Republicans who blocked the most recent PayGo.

I do

Cool. I'm betting you didn't actually do that. You just "think it."
How about getting out there at a Tea Party rally with a sign that says
PayGo is the way to go.