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Uh, Obama? We Have a Problem: Interest Expense to Hit $1 Trillion in 4 Years

FriscoLawyer Wrote: Feb 06, 2013 5:22 PM
No one can be elected who wants to get rid of the "entitlement" programs, so until the electorate faces up to the fact that Social Security and Medicare are nothing but government-created Ponzi schemes, we are hosed. It's that simple.
Danny261 Wrote: Feb 07, 2013 12:51 AM
We baby boomers had no choice but to PAY for SS Medicare because it was a FORCED tax automatically TAKEN from our checks.
At least we PAID into the system. Then the Govt spent it on PET projects for their districts.
There are untold millions who NEVER worked a day in their lives that get TONS of free stuff.
Why is it the SS people who worked and paid into the system for 50 + years like me, are told WE are the PROBLEM and have to take a hit WHEN UNTOLD MILLIONS WHO NEVER WORKED EVER get MORE free stuff. I personally know 6 people who get SS disability for back/mind probs and they play golf, tennis and think just fine. OF COURSE there are people who are REALLY sick.
Fooling Wrote: Feb 06, 2013 11:43 PM
We are getting hosed, it is accelerating . . . the fall of this formerly great Republic will be with a whimper and not a bang, we are experiencing it NOW. The trickle effects of what will soon be rampant inflation, depressionary regulations, savages running around in flashmobs, cops refusing to work without 100K a year pensions, govt. healthcare causing millions to lose their insurance....AMERICA you are a FOOL. It goes as you sleep, right form beneath your eyes. The thieves party, witness, e.g., the senator who cavorts with underage prostitutes on YOUR dime.

ideaminer Wrote: Feb 06, 2013 5:58 PM
You're right, but the problem is much bigger than just "facing up" to the true nature of SS and Medicare. These programs have been around so long and government at all levels has grown so much, together with a central banking system that has steadily eroded the purchasing power of our money, that many (maybe most in the so-called middle-class and below) no longer have sufficient resouces left to them to be self-sufficient. I'm a baby-boomer, and everyone I know has "faced up" to the fact that, following our parents and grandparents, we were suckered into this scheme--probably one of the reasons many of us are still working. I expect the next psychological disorder we'll be hearing about is "generational guilt".

I hate to interrupt Obama’s “We Don’t Have a Spending Problem” World Tour. But reality intervened on Tuesday as the Congressional Budget Office released a report that says that the budget deficit will grow through 2023 and “will eventually require the government to raise taxes, reduce benefits and services, or undertake some combination of those two actions,” reports CBSNews- and all of that just to cover interest payments.

“In its annual Budget and Economic Outlook,” writes CBSNews, “the CBO said debt held by the public will be bigger by 2023 than in any year since...

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