No. of Recommendations: 2
Yeah! Let's give those people who paid FICA tax their entire working life a lecture on "personal responsibility", and stiff them. Then the money can be used to give the "JCs" another tax cut, because that would be "pro-growth".
Lulz.
I'm Gen X. Social Security is going to be donezo by the time I get there because a) it's a population based scheme b) we're the smallest generation and Gen Y, Gen Z and Gen A will have zero compunctions about slapping us with austerity to save the program and c) the math hasn't mathed in decades. It was never going to when the Boomers didn't have enough kids.
Warned about debt in my very first posts on the Fool waaaaaaaaaay back in 2001. The board laughed. I voted for Perot twice, the only guy talking about it. The board kept laughing. Said the day was coming when it was a fiscal crisis.
The board laughed more.
This newfound energy around debt is merely a function of Trumphate and is therefore performative. Because if one generally cared about debt
-You'd have been aware of the structural problems that both SS and Medicare have since inception
-You'd be a keen follower of interest rates and their effect on the national debt load, interest servicing and deficits
-You'd have been angry at Obama triggering the 2nd tranche of TARP when it wasn't necessary *and* passing the stimulus act
-You'd have been calling for the Baseline Budget Act or similar so that spending increases aren't automatically baked into the federal budget year on year
-You'd have been incandescent at multiple years of trillion dollar deficits under Obama, Trump and Biden
-You'd have been appalled at the "inflation reduction act" which did nothing but INCREASE inflation *and* the debt
...and more!
These threads are, as I say, entirely performative in nature; dinner theater via digital delivery. Somebody sent out a Facebook page that said 'go complain about the debt' and here liberals are, complaining about the debt. Next week they'll get around to something else in what is just the next address to visit in the endless parade of left wing intellectual drive-by shootings.
PS> socialism makes debt worse.