The Stand Pat Society

Jccarlton · Post by **Jccarlton** » Tue Jan 05, 2010 2:00 am

Interesting article about the effects of the great recession.
http://www.realclearpolitics.com/articl ... 99753.html

There is just one problem with standing pat right now. It is the worst possible thing we could do. There is no way that the current system is sustainable. There are too many liabilities and not enough cash. There isn't enough cash in the whole world to meet the liabilities the Federal Gov't has.

This video is scary. 2017 is seven years away:
http://www.youtube.com/watch?v=70lkobYY0Hc

Josh Cryer · Post by **Josh Cryer** » Tue Jan 05, 2010 2:20 am

The US has never been nor will ever be a "stand pat society."

Jccarlton · Post by **Jccarlton** » Tue Jan 05, 2010 2:28 am

Josh Cryer wrote:The US has never been nor will ever be a "stand pat society."

Ever looked at the Great Depression. The '70's were no picnic either. enough regulation, enough high taxes, enough Gov't domination and things will gum up. Look around. It's starting already.

Jccarlton · Post by **Jccarlton** » Tue Jan 05, 2010 3:45 am

More of the same:
http://alfin2100.blogspot.com/2010/01/o ... 10-yr.html

TallDave · Post by **TallDave** » Tue Jan 05, 2010 4:42 am

We'll be fine. People are just spoiled these days. Did you know the 2009 poverty line is about where average incomes were in the 1950s?

Social Security was never meant to be a retirement system, it was to keep old people from starving in the streets. Now everyone wants to get 20 years out of it. Means-testing and actuarial linking are long overdue, and kiss the FICA cap good bye. We'll live.

If we can get back to free markets, a lot of problems can solve themselves.

http://reason.com/archives/2009/12/23/m ... t-mandates

KitemanSA · Post by **KitemanSA** » Tue Jan 05, 2010 10:06 pm

TallDave wrote: If we can get back to free markets, a lot of problems can solve themselves.

Please note that Peru, the first country to institute the ponzi scheme called "Social Security" in this country, was also the first country to get rid of it.

Last I heard (been a while) they were generally happy to be rid of it. Maybe we should learn from them.

TallDave · Post by **TallDave** » Wed Jan 06, 2010 12:00 am

http://www.ssa.gov/policy/docs/progdesc ... /peru.html

Looks like they have a mandatory individual account instead. That's a step forward from our system, in which you are forced to buy an annuity from the government which is paid for by the next generation of suckers, er, taxpayers.