Saturday, November 08, 2008

A condensed version of I.O.U.S.A.

I.O.U.S.A., condensed to 30 minutes:


  1. The whole country has been on a spending binge since the 1980's, and all we have to show for it is a massive hangover. This is going to take a while to unwind, I fear...

  2. What is coincidental is that the proliferation of "growth stocks" correlates with the growth of the national debt starting in the early 1980's. Before then, value stocks dominated the market, and the S&P 500 returned a reliable 7% dividend. Our economy shifted to a service based one over the last 30 years as well. And what do we have to show for it? Perhaps a medical and internet boom, but other than that, we have two wars, a ballooning debt, etc.

  3. I'm sure some dark genius will engineer a disease that attacks anyone over the age of 55 and wipe all us boomers out before we hit retirement.
    Seems to me that if people had listened to Gore back when he was telling us to put SS in a lock-box, we wouldn't be in as bad a shape as we are in now.
    SS is not a freebie, it's been bought and paid for like any insurance plan.
    It makes me sick that not only has the people's money been stolen and spent for global empire building, but then they make it sound like SS is some gov. funded charity given away to undesirable burdensome old people.
    We are fixing to reap what we have sown, and it's not going to be pretty.

  4. PA turner, I suspect that taxes will rise for social security earners. So eventually any social security recipient making over $75,000 after deductions will be paying a lot more in taxes. As FDR called it Social Insurance, perhaps Social Security needs to be just that, a social insurance program, not a retirement account for the well-to-do.