- Joined
- Dec 9, 2009
- Messages
- 134,496
- Reaction score
- 14,621
- Location
- Houston, TX
- Gender
- Male
- Political Leaning
- Conservative
First, the recession ended 3 years ago. Second, as Sheik Yerbuti pointed out, much of the decline in the labor force is baby boomers retiring. That has the duel impact of lowering income tax revenues while increasing the drain on the treasury. What we have is a structural problem where a declining work force will have to support a growing population that has retired and living off of SS and Medicare. The trillion dollar annual budget deficit is something that may never go away. Unless, someone steps forward and leads on the issue. And I see no presidential candidate in either party ready to step forward and lead on that issue.
Because of economic conditions retirements have been postponed by many baby boomers and the reality is 1.059 million discouraged workers weren't counted last month and that is after spending trillions and trillions of dollars to stimulate and grow the economy. That is a disaster. This country cannot afford trillion dollar deficits for ever as the value of our dollar is going to be worthless. We are seeing now what happens when you create a unified budget and put SS/Medicare on budget and spend that money on social programs that have failed. We are broke and Obama is stepping on the gas