Reports of America’s Decline Have Been Greatly Exaggerated
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  • Braincramp

    I respectfully disagree. There will be a day of reckoning as a result of the debt. It can’t be sustained, we have no plans to slow its growth, and its unwinding will be ugly.

    I’m 61 and I’m going to be okay. Generations to follow–people now in their twenties, thirties, and even forties, have NO chance of enjoying the standard of living boomers have, and for which THEY will pay.

    I tried for many years to enlighten my younger coworkers as to what their ignorance and disinterest was producing but the run-up to the 2012 election was my last hurrah. No more entitlement, tax, or monetary policy reform for me; like the 9,999 other baby boomers turning 65 every day now, I choose a denial of the laws of arithmetic. Just give me “mine” and to heck with you.

    Sorry about the rant…

  • bpuharic

    I lived in Dallas for 2 years and contrary to the myth WRM states here, red state taxes are pretty high too…especially on the poor.

  • Jim__L

    What happens to those numbers when the $17T+ national debt is included?

  • Pait

    Deleveraging is, of course, both unavoidable and healthy. It is also the cause of the persistent unemployment, a major disaster which is made worse by the failure of government to act appropriately.

    Had the US fought against unemployment more vigorously, deleveraging would have been faster and less problematic. It is a pity that so many people in government, business, and the media continue to devote an enormous amount of effort to not understand this basic economic fact.

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