Abdel
Economist
- Joined
- 5/22/11
- Messages
- 303
- Points
- 38
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I hope the young people here realize that SS is not something they can count on anymore and instead focus their years ahead to create wealth and build their own nest egg.The real reason why cuts in Social Security are on the cards: (source)
I hope the young people here realize that SS is not something they can count on anymore and instead focus their years ahead to create wealth and build their own nest egg.
Only because the USA has been routinely emptying out the SS account to pay for other things not linked to social security. Like, oh, that massive military of ours...
25% was spent on medicaid/Welfare/Unemployment
33% was spent on Social Security and Medicare (elderly insurance)
.
I hope the young people here realize that SS is not something they can count on anymore and instead focus their years ahead to create wealth and build their own nest egg.
Just looking at that pie chart gives you a good idea how Europe can live so well. If you took out that 20% chunk you could reallocate it to a bunch of social programs. If only there was world peace. I guess until that day comes, having a strong military is a pretty good thing.
Which ones?There are countries out there that are MUCH more socialist than we are and have balanced budgets
We have the second highest median per capita income in the world. We are NOT doing poorly.Why are they that much better at business/economics than we are?
Drop by 20%....? You want to cut the military entirely?!?! Are you mad!??!It'll drop our spending by nearly 20%! That and REAL healthcare reform will be enough to claw our way to profits.
There are countries out there that are MUCH more socialist than we are and have balanced budgets and are actually lending money to us. Clearly their socialism isn't this massive impetus to wealth accumulation that everyone likes to pretend... how do they do it? Why are they that much better at business/economics than we are?
How about Sweden? It's projected surplus this year will be enough to pay off another 14% or so of its debt (that it incurred during a housing bubble and ensuing financial crisis in the 90s). As a matter of fact, since '98 Sweden has had a surplus every year spare '03 and '04. Even when the rest of Europe was drowning in debt trying to stave off a depression and going into a recession.
Oh, and according to its Gini index, it is THE most socialist country in the world with the smallest wealth gap.
... and yet I still hear "do we REALLY want to be Sweden?!?" on FOX news...
According to Wikipedia, Sweden still has lower productivity than the US per hour worked, so they aren't at our level in any case.
The real reason why cuts in Social Security are on the cards:
(source)